Security Savings Bank (Davenport, IA)

Episode Information

Episode UID
2633181891513
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
263318189 hash
Start Date
January 1, 1926*
Location
Davenport, Iowa (41.524, -90.578)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
984655796bd8e5a0

Response Measures

None

Description

Articles state the bank suspended about two years before 1928 and was taken over by American Commercial Savings Bank.

Events (1)

1. January 1, 1926* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Investigation and audit cited irregular methods and questionable loans by officials/directors leading to suspension.
Newspaper Excerpt
Security Savings bank, which suspended operations about two years ago, ... taken over by the American Commercial Savings bank when it ceased operations.
Source
newspapers

Newspaper Articles (6)

Article from The Daily Times, March 3, 1928

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Article Text

ECKHARDT FOUND Former Officer of Security Savings Bank Kills Self With Gas FINANCIAL WORRIES CAUSE Had Been Despondent Over Closing of InstitutionFailed in Bond Business Despondent over financial diffithe Security Savings bank, suspended operations about years ago, ended his life turning the gas the bath room of his home, 515 West Fourteenth street, Davenport, last evening. He was dead his wife returning home some friends at discovered the body. Mr Eckhardt, according to members of his family, lost heavily through the closing of the bank and had worried considerably about the affairs of the institution, taken over by the American Commercial Savings bank when it ceased operations. Since bank quit business he been engaged the stocks and bond business but this was not successful. it said. On February committee of the of the former bank. composed George Schulz, Niemeyer, Louis Martens and Schnekloth, letter all other announcing that an audit of the bank's records for the purpose of investigating the status many loans reported have been made with the sanction of officials directors, deemed advisable. In the letter, was expressly stated that the communication not be considered a personal cusation directed toward anyone connected with the bank, indication that irregular methods handling the loans and other business suspected. stated that for the best interests the investigation would be made its results made known to those interested. Plans for this investigation are said to under way the time, although members of the stockholder group were unable this time say what the results the inquiry expected to be the close of the audit and investigation. A few days following the sending out of the letter former held meeting to discuss the matter. Mr Eckhardt did not attend this meeting, it said. Act Well Planned Mr Eckhardt had apparently carefully planned to end his his wife's absence last during customary for attend bowling club meeting Friday night while Mrs hardt attended meeting of card wives the club composed club members. Mr Eckhardt left home about that he would not terday. dinner but would home for the club meeting tend He told Mrs Eckevening. attend the card club hardt to stated that he would meet and the front her after Hanssen's Sons Co., Louis hardware store. Mrs in company Mrs True waited for Mr in front the hardEckhardt some time and when they decided that did not appear home. They went he gone Eckhardt home and upon house Mrs Eckhardt tering the odor of gas the tected the


Article from The Courier, March 3, 1928

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Article Text

New Miners Union Goes to Kansas City Centerville, March District headquarters of the newly Southwest Amerwill abandoned and all the union transacted national Kansas to an The amalgamation miners' membership confined practically Appanoose county, and of Mississippi. Agnessen president. EX-CASHIER ENDS LIFE. Davenport, March financial Otto former cashier of the Security Savings bank, which suspended operations about two years ended by turning the bathroom of his home last


Article from The Muscatine Journal, March 3, 1928

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Article Text

DAVENPORT MAN COMMITS SUICIDE Davenport, Ia., March 3.-(AP)Despondent over financial difficulties. Otto Eckhardt, former cashier of the Security Savings bank. which suspended operations about two years ago, ended his life by turning on the gas in the bath room of his home. last He was dead when his wife returned home with some friends and discovered the body. Read the ads. on Classified Page.


Article from The Sioux City Journal, March 4, 1928

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Article Text

Former Bank Cashier Ends Life with Gas Davenport, Ia., March 3.-(P)-Despondent over financial difficulties, Otto Eckhardt, former cashier of the Security Savings bank, which suspended operations about two years ago, ended his life by turning the gas in the bathroom of his home. He was dead when his wife, re turning home with friends, discovered the body.


Article from The Gazette, March 4, 1928

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Article Text

FORMER BANKER ENDS LIFE. DAVENPORT. March Despondent over financial difficulOtto Eckhardt. former cashier of the Security Savings bank, which suspended about two years ended his life by turning on the gas in the room of his home evening. He was dead when his wife, returning home with some friends, discovered the body.


Article Text

DISBARRED TRIBUNAL Loses Right to Practice Law; May Write Bar History. CLIENT'S FUNDS Second Lawyer to be Disbarred in History of Scott County. Attorneys for Claus Ruymann, disbarred from further legal practice in Iowa by decision of three judge court, said they would ask the supreme court to reinstate their client the proper time." The terse statement, issued by Hanley, who with Otis Gilbrech and John Hornby defended the disbarred attorney, was issued following conference with Mr. Ruymann in Hanley's office. lows: "There will be appeal. the proper time will ask for statement of Mr. Ruymann. That all we can say at this time." Mr. Ruymann, 59. has been engaged the practice of law in Davenport since when he was first admitted to the bar. a former president of the county bar association and has been active for years political circles. He was formerpresident of the Security Savings bank, which suspended business some 10 years ago. May Write History. In his plans for the future. Mr. Ruymann said he thinking of occupying his leisure time by writing history the Scott County Bar assoclation. Any appeal, it was pointed out, could only from the weight punishment dealt out to Mr. Ruymann by three-judge court, since he had already pleaded guilty charges of misappropriating funds of client, Henry Kroeger. No Criminal Prosecution. No of Mr. Ruymann, based upon the transactions involved in the charges filed in the disbarment proceedings, is according to CounAttorney Leon A. Grapes. The transactions, which occurred eral years ago, are barred by the statute of limitations, the attorney said. Defense attorneys the suggested that the court only suspend Mr. Ruymann for term of months or years, while one of them, Attorney Hanley, said that severe reprimand would be sufficient punOnly One Other Case. Only other of complete and exists in the history of Scott county bar, according to Murphy, its veter. an member. involved an attorney by the name of Wing of the partnership of and Fink, Disbarment proceedings were stituted here some eight years (Continued Page Two)