Commercial Bank (Hagerstown, IN)

Episode Information

Episode UID
9770940291267
Episode Type
Suspension β†’ Closure
Bank Type
private
Bank ID
977094029 hash
Start Date
July 6, 1905
Location
Hagerstown, Indiana (39.911, -85.162)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b374a7167d363af2

Response Measures

None

Events (2)

1. July 6, 1905 Receivership
Newspaper Excerpt
J. A. Spekenhier was today appointed receiver of the Commercial Bank of Hagerstown, Ind., on application of Frank Mason.
Source
newspapers
2. July 6, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier John Bowman committed suicide; examination disclosed deficiency of assets and confused books.
Newspaper Excerpt
President Mason of the Commercial Bank today issued a statement that the bank would not again open for business, and it is expected a receiver will be named.
Source
newspapers

Newspaper Articles (21)

Article from Evening Star, July 6, 1905

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BANK NOT TO RESUME. Commercial Institution at Hagerstown to Close Its Business. HAGERSTOWN, Ind., July 6.-President Mason of the Commercial Bank today issued a statement that the bank would not again open for business, and it is expected a receiver will be named. Mr. Mason said an examination of the bank's affairs has disclosed a deficiency of assets and a confused condition of the books. The cashier, John Bowman, committed suicide July 3. The bank was a private institution, owned by Mr. Bowman and Mr. Mason as partners, the business having been transacted entirely by the late cashler. The deposits were $100,000.


Article from The Topeka State Journal, July 6, 1905

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BANK CLOSES. Suspension Follows Suicide of the Cashier Last Monday. Hagerstown, Ind., July 6.-President Mason of the Commercial bank today issued a statement that the bank would not again open for business and it is expected a receiver will be named. Mr. Mason said an examination of the bank had disclosed a deficit of assets and a confused condition of the books. John Bowman, the cashier, committed suicide July 3. The bank was a private institution, owned by Mr. Bowman and Mr. Mason as partners, the business having been transacted entirely by the late cashier. The deposits were $100,000.


Article from The Daily Telegram, July 6, 1905

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BANK@SHORTAGE CAUSED SUICIDE By Associated Press. Richmond, Ind., July 6-It is of ficially announced that only nine teen hundred dolars in cash has beer found in the Commercial Bank O. Hagerstown to meet the severaΒΉ thousand dollars of deposits. This condition, it is believed, accounts for the suicide of Cashier John Bow. man last Monday. President Mason says a receiver will be appointed. The deposits are two hundred thousand dollars. President Mason is her to ask for the appointment of a receiver fo: the bank. The assets are estimated at $65,000.


Article from Arizona Republican, July 7, 1905

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A BANKER'S SUICIDE. The Reason for it is Not Yet Made Plain. Richmond, Ind., July 6.-J. A. Spekanhier was today appointed receiver of the Commercial Bank of Hagerstown, Ind., on, application of Frank Mason. The liabilities exceed $100,000. while the assets are given at $750,000. Cashier John Bowman committed suicide last Monday and this action led to the present receivership. The reason for Bowman's suicide has not yet developed.


Article from The Bemidji Daily Pioneer, July 7, 1905

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PRIVATE BANK SUSPENDS. Cashier of Institution Committed Suicide July 3. Hagerstown, Ind., July 7.-President Mason of the Commercial bank has issued a statement that the bank would not again open for business and it is expected a receiver will be named. Mr. Mason said an examination of the bank's affairs had disclosed a deficiency of assets and a confused condition of the books. The cashier, John Bowman, committed suicide July 3. The bank was a private institution owned by Mr. Bowman and Mr. Mason as partners, the business having been transacted entirely by the late cashier. The deposits were $100,000.


Article from Omaha Daily Bee, July 7, 1905

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Indiana Bank Fails. HAGERSTOWN, Ind., July 6.-President Mason of the Commercial bank today issued a statement that the bank would not again open for business, and it is expected a receiver will be named. Mr. Mason said an examination of the bank's affairs had disclosed a deficiency of assets and a confused condition of the books. John Bowman, the cashier, committed suicide July 3. The bank was a private institution owned by Mr. Bowman and Mr. Mason as partners, the business having been transacted entirely by the late cashier. The deposits were $100,000.


Article from The Clarksburg Telegram, July 7, 1905

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BANK SHORTAGE CAUSED SUICIDE By Associated Press. Richmond, Ind., July 6-It is of ficially announced that only nine teen hundred dolars in cash has been found in the Commercial Bank 0. Hagerstown to meet the several thousand dollars of deposits. This condition, it is believed, accounts for the spicide of Cashier John Bow. man last Monday. President Mason says a receiver will be appointed. The deposits are two hundred thousand dollars. President Mason is here to ask for the appointment of a receiver for the bank. The assets are estimated itt. $65,000.


Article from The Salt Lake Herald, July 7, 1905

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INDIANA BANK BROKE. Cashier Ended His Career By Committing Suicide. Hagerstown, Ind., July 6.-President Mason of the Commercial bank today issued a statement that the bank would not again open for business and it is expected a receiver will be named. Mr. Mason said an examination of the bank's affairs had disclosed a deficiency of assets and a confused condition of the books. John Bowman, the cashier, committed suicide July 3. The bank was a private institution, owned by Mr. Bowman and Mr Mason as partners. the business having been transacted entirely by the late cashier. The deposits were $100,000.


Article from Waterbury Evening Democrat, July 7, 1905

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Bank Closed, Cashier a Suicide. RICHMOND, Ind., July 7.-J. A. Spekenhier has been appointed receiver of the Commercial bank of Hagers town, Ind. The liabilities exceed $100, 000, while the assets are given as much less than that amount. The cashier, John Bowman, has committed suicide, and this action led to the present receivership. Following the suicide an investigation was made, and only $1, 900 in cash was found. although the assets are believed to be nearly $75, 000. The reason for Bowman's suicide is said to be his shortage to the bank.


Article from Gainesville Daily Sun, July 8, 1905

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Maryland Bank Closes Its Door. Hagerstown, Ind., July 7.-President Mason, of the Commercial bank. to day issued a statement that the bank would not again open for business and it is expected that a receiver will be named. Mr. Mason said an examina. tion of the bank's affairs had disclosed a deficiency of assets and a onfused condition of the books The cashier John Bowman committed sucide July 3.- The bank was a private institution owned by Mr. Bowman and Mason as partners, the business being transact ed entirely by the former.


Article from Evening Star, July 9, 1905

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# Suicide Was a Defaulter. INDIANAPOLIS, Ind., July 8.-A News special from Hagerstown, Ind., says: Cashier Bowman of the Hagerstown Commercial Bank, who committed suicide on July 13, was a defaulter to the extent of at least $100,000. This amount may be increased when the muddled books and confused mass of papers have been thoroughly examined by Receiver J. A. Speckenhier.


Article from Ottumwa Tri-Weekly Courier, July 11, 1905

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IOWA ONE OF SIX STATES WHERE GRAFT IS UNKNOWN. (Continued from Page 1). ey than any other enterprise in the state. Testimony is to be taken in all parts of the state. Nebraska. "Lincoln, Neb., July 9. - The recent decision of the Nebraska supreme court declaring the biennial election law unconstitutional may have the effect of stopping the investigation of graft connected with its passage. It was charged during the debate on the bill that a substantial corruption fund had been raised by office holders to insure its passage and so earnest was the protest that a legislative committee was appointed to make an investigation. "Another Nebraska graft case, a relic of the indictment of ex-Senator Chas. H. Dietrich for alleged trafficking in postoffices,still hangs fire in the federal court for the district of Nebraska. It concerns men of prominence, who It is charged, worked hand in hand with the former senator in the sale of postoffices and other federal appointments. The cases of Postmaster Mitchell of Alma, Postmaster Fisher of Hastings and Elliott Lowe, former member of the legislature, indicted jointly with Dietrich, have never come to trial. "The most recent graft inquiry in Nebraska concerns the illegal acquirement of homesteads and illegal fencing of government lands in the northwestern part of the state. Many men are involved. Thus far there have been but two convictions. The trials of the other indicted men will begin at the coming session of the court One of the latter is Frank Currie, a member of the lower house of the Nebraska legislature. Indiana. "Indianapolis, Ind., July 9.-Charges of "graft" are being investigated in various parts of Indiana. From Richmond comes word that the fraud charged against members of the city administration is being investigated by the grand jury. In Grant county expert accountants report that several of the county officials now in office and former officeholders have been found short in amounts of over $23,000. The officials deny any shortage "Investigation of the defunct Vigo County National bank of Terre Haute is progressing under instructions from Washington. If the insolvency develops the acceptance of $70,000 of government deposits when failure stared the officials in the face it may incriminate the entire management. "Cashier Bowman of the Commercial bank of Hagerstown. Ind., killed himself on Monday President Mason announced the bank must suspend, with liabilities of $150,000 and comparatively no assets. Kansas. "Topeka. Kan., July 9.-Kansas is in the midst of a graft investigation which will cover every department of the state. The legislature which met last winter appropriated the sum of $15,000 to be expended by the governor in ascertaining how the public money has been handled the last five years. Five expert accountants are now busy on the books of State Treasurer T. T. Kelly, and when they finish their work they will investigate the state school fund commissioners. "Since the investigation began it has been found the state treasurer has more than $1,000.000 on deposit in state banks which he is supposed to be drawing interest The treasurer and his friends deny this, and the investigation will reveal the facts. The failure of the First National bank, with more than $500,000 in state money on deposit, has complicated affairs to a certain extent. "The charges against the members of the state school fund commission are little more than intimations that they have misused the funds in their care. Minnesota. "St. Paul, Minn., July 9.-Not since the graft charges against Mayor Ames of Minneapolis and his conviction. together with the conviction of the chief of police a year ago, for municipal graft, has there been any graft scandal in Minneapolis that has become public. Wisconsin. "Milwaukee, Wis., July 9.-Today the Milwaukee graft hunting grand a jury will reconvene and early in the proceedings will vote several more indictments. "Twenty-one alleged grafters, nearly all big members of the county board of supervisors, are under indictment, awaiting the pleasure of the district attorney before being brought to trial. They are all involved in three deals, the letting of contracts for three portions of the work on a county building. "One indictment is for the alleged giving of $250 to a supervisor to secure bis.vote sale of county property


Article from Custer County Republican, July 20, 1905

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News in Brief William A. Wheeler, president of the council of New York university, died in New York. Martial law was abolished over the whole of Formosa and the Pecadores islands, says a dispatch from Tokio. The Philippine commission has passed an act granting Sabin Glass of San Franc'sco a franchise to construct telephone and telegraph systems throughout the islands. The correspondent of the London Daily Mail at Geneva says that several persons have been killed or injured by violent thunderstorms which prevailed throughout Switzerland. Fire at Antioch. Cal., destroyed J. Lindenburger & Co.'s salmon cannery, cold storage plant, 600 barrels of canned salmon, twenty fishing boats and one launch. Loss, $150,000. Charles F. Wells, vice president of the National Lead and Oil company of Pennsylvania, has been killed and his daughter, Clara, injured in a runaway accident at Beaver Falls, Pa. At Hagerstown, Ind., President Mason of the Commercial bank issued a statement that the bank wwould not again open for business, and it is expected a receiver will be named. John L. Flynn of Mississippi, after a desperate but unsuccessful attempt to kill his bride at New Orleans, has committed suicide. Mrs. Flynn was a daughter of C. F. Hudson of Greeley, Col. President Roosevelt has approved the issue of $600,000 of bonds by the treasury of Hawaii to refund the gold bonds of the republic of Hawaii, issued under an act of the legislature of June 13, 1896. The League of American Travelers. a national organization which has for its object the security of concessions from railroads on mileage and other questions, was launched at Cincinnati, Sunday. Rear Admiral W. H. Whiting, having served for forty-two years in the United States navy, will relinquish command of the naval training station at San Francisco and be placed on the retired list. Charles Henry Treat, who became United States treasurer several days Robert JO descripatin difeet B s1 '0.38 Treat, who for thirty-two years was deputy and royal governor of the colony of Connecticut. A telegram has been received by the Harvard college observatory from Prof. Lowell at Flagstaff, Ariz., statuo projection B SUM there that Sup terminator Mars on Sunday near Propontis position angle 19 degrees. It is announced that Albert T. Patrick who is awaiting execution for the murder of William Marsh Rice, the Texas multi-millionaire, has instructed his take 01 IIIH 'Π― PLACE siq case to the United States supreme court. In a battle at St. Louis between five negroes, believed to be highwaymen, and four police officers one negro was killed, another probably fatally wounded and a third was shot through the left arm. None of the officers were inJured. J. P. O'Brien has been formally elected vice president and general manager of the Oregon Railway and Navigation company at a meeting of directors held in Portland, Ore., vice B. A. Worthing, whose resignation was accepted. Cardinal Richelmy has instituted a movement to secure funds for the erection of a monument to Christopher Columbus in the neighborhood of St. Peter's, Rome, to commemorate the -AΓ“OSID 180.18 the JO authorisary 44044 orer's death. The Canadian Pacific Railroad company, which recently purchased the Esquimalt & Uanimo railway, announces that survey parties would at once be placed in the field, looking to the extension of the line to the north of Vacouver island. In the case of the state of Minnesota against Congressman C. B. Buckman to recover $70,000 for alleged illegal timber cutting, the supreme court has decided against the state, finding that the state's claim had been outlawed. "OO 28 IO ΡˆΠ»Ρ€ brokerage euro Chicago, have suspended business. The whereabouts of S. L. Frazer, the active member of the firm, is unknown. Thomas Medill, an associate, has cured a warrant for Frazer's arrest, charging embezziement. At Cheyenne, Wyo., Judge Scott de cided against Colonel J. H. Pratt of Omaha in the celebrated Pratt-Leiter suit, holding that the partition of the property of the company in that state valued at over $500,000, as made by the commission appointed by the court was just and equitable and mus stand. The cartmen's union has decided Join the longshoremen in a sympa thetic strike at San Juan, P. I. Western contractors, Nebraska, IIII nois, Minnesota and others, are figur ing upon contracts for building the Western Pacific road. the Gould


Article from East Oregonian : E.O, July 27, 1905

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GENERAL NEWS. The Southern Textile company, capitalized at $14,000,000, has failed. It operated 12 valuable cotton mills in southern states. The total acreage of cotton planted in the United States this year was 26,999,000 acres, which is 85.1 per cent of the acreage of last year. The cashier of the Hagerstown, Ind., Commercial bank, has suicided, and the affairs of the bank are being investigated by the grand jury. Charles Long, a negro accused of the murder of Mathew Cunningham, a white man, has been run down and surrounded in a swamp near Trenton, N. J. W. J. McDonald, a Long Island railway flagman, deliberately sacrificed his life to save that of a woman and her baby who were about to be run down by a train. A ship laden with samples of American manufactures of all kinds will leave New York for a tour of the world. It will carry interpreters of all modern languages. P. J. Potter's Sons, private bankers of Bowling Green, Ky., have failed with liabilities amounting to over $1,000,000. The face value of the assets is about $1,000,000. Attorney General Rodgers, of Arkansas, has brought suit against the International Harvester company for penalties amounting to $600,000 for alleged infringement of the Arkansas anti-trust law. Secretary Taft reiterates the opinion that unqualified free trade should be established with the Philippines immediately upon the expiration of the present treaty with Spain, which will be in 1907. Eight prominent women of Industry, Kan., completely wrecked John Peterson's "joint" or illicit saloon. Peterson left town immediately. No arrests, as the women have the backing of the entire respectable element.


Article from Ottumwa Tri-Weekly Courier, January 2, 1906

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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, M h., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank. Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.


Article from The Grenada Sentinel, January 13, 1906

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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3--Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, III, national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.


Article from The Richmond Palladium, November 14, 1906

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The case of J. A. Spekenheir, receiver of the Commercial Bank at Hagerstown, against the estate of John Bowman, will be called in the Wayne circuit court on Saturday.


Article from The Richmond Palladium, December 7, 1906

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# AN AGREEMENT IS MADE IT MAY END LITIGATION Creditors of John Bowman Estate and Those of Firm of Wyatt, Allen and Company Agree on Terms of Settlement. By the terms of an agreement entered into between the creditors of the estate of the late John Bowman, of Hagerstown and the creditors of the firm of Wyatt, Allen & Company, which conducted the Commercial bank at Hagerstown and with which Bowman was identified, litigation probably is at an end. The agreement was drawn up by T. J. Study, representing Hugh Allen, administrator of the Bowman estate and Robbins & Starr representing J. A. Spekenhier, receiver of the defunct Commercial bank. In substance the agreement follows: It is agreed with the approval of the court and by Hugh Allen, administrator of the John Bowman estate, Martha A. Bowman, widow of the decedent, Edward L. Bowman, heir of the decedent, J. A. Spekenhier, receiver for the firm of Wyatt, Allen & Company and Mary Allen, Mary E. Fritz, Rachel Petty, Pearl Hatfield, Charles P. Fritz, F. P. Allen, Charles T. Knapp and Nathan Canady, executor of the will of Marcus Conway, who hold claims which have been allowed against the Bowman estate for government bonds wrongfully converted and appropriated while on deposit with Wyatt, Allen & Company, but which claims the administrator of the Bowman estate and the individual creditors have contended are primarily claims against the firm of Wyatt, Allen and Company, the assets being in the hands of the receiver, and that these should be settled as such, so to effect a compromise. It is agreed that Hugh Allen shall settle the Bowman estate and pay in full the individual creditors of the estate, also the expenses of settling and administrating the estate, out of the money Mr. Allen has in his hands. The balance of the money Mr. Allen shall pay to Mr. Spekenhier as receiver for Wyatt, Allen & Company to be distributed among the creditors of Wyatt, Allen & Company.


Article from The Richmond Palladium, January 8, 1907

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# A General Claim. William H. Porter's claim against J. A. Spekenhier, receiver for the defunct Hagerstown Commercial bank, for $90 becomes a general and not a preferred claim. This is in accordance with the ruling of Judge Fox, in circuit court Monday.


Article from The Richmond Palladium, February 6, 1907

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An Account of the Commercial Bank at Hagerstown, by A. J. Spekenhier. REQUESTED BY JUDGE FOX PARTICULAR ATTENTION WILL BE GIVEN TO ALL THE DETAILS OF THE SETTLEMENT MADE BY RECEIVER. Although A. J. Spekenhier, receiver for the defunct Hagerstown Commercial bank has submitted his report of the moneys handled by him during his receivership, and was accepted, Judge Fox has requested him to prepare an itemized report of all his work while connected with the settling of the bank's affairs. The whole work will mean a history of the bank from the time it started until the time the last settlement was made. The move was made on the part of Judge Fox so that in case of dispute, or reference, the account could be turned to immediately. Postmaster Spekenhier was somewhat surprised at the request as it will entail a great amount of extra labor to complete it. Special state. ments and history of the overdrafts, notes and such will be made, making the statements of all in such form as to give a thorough knowledge of all


Article from The Richmond Palladium and Sun-Telegram, March 23, 1907

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# PENNY HAS SEARCH FOR MISSING PAPER Found It in the Last Box of Course. # THE CLERK'S EXPERIENCE. In the record room of the court house which is located in the basement, are seven big dry goods boxes containing all the records, papers, receipts, etc., of the old Commercial bank at Hagerstown. They were placed there by J. A. Spekenhier, receiver for the bank, after he had made his final report. Friday afternoon County Clerk Harry E. Penny had the delightful task of hunting through these boxes for an envelope which contained some private papers of Cashier Robert Hicks, of the First National bank of Hagerstown. Naturally, Mr. Penny, who was all afternoon at his task, did not find what he was looking for until the last box had been opened. Mr. Hicks asked Mr. Penny to make the search, as he stated that these papers had by mistake, got mixed with the Commercial bank papers. Ripping of boards and hammering of nails resounded throughout the court house from noon until sunset.