Wakefield State Bank (Elma, WA)

Episode Information

Episode UID
4031017291149
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
403101729 hash
Start Date
September 1, 1895*
Location
Elma, Washington (47.003, -123.409)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
64f629d442cc486c

Response Measures

None

Events (3)
1. September 1, 1895* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors insolvent; gross mismanagement, inadequate cash on hand and overstated assets
Newspaper Excerpt
the suspended Wakefield State Bank of Elma
Source
newspapers
2. September 10, 1895 Receivership
Newspaper Excerpt
The assignees of the defunct Wakefield State bank of Elma have filed a statement ... A receiver will soon be appointed.
Source
newspapers
3. January 18, 1900 Other
Newspaper Excerpt
Wakefield State Bank per Assignee to Jacob Anderson, blks 2 and 3, Eureka add Elma-$10
Source
newspapers

Newspaper Articles (3)
1. September 10, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, September 10, 1895

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Article Text

NORTHWEST NEWS. P. J. Olsen. a rancher 45 years old. was drowned in Skamokawa creek, Wahkiakum county, September 6, while driving logs. The total assessed valuation of Chehalis county towns, as equalized, is: Aberdeen, $568,212; Montesano, $348,752: Hoquiam, $306,540; Cosmopolis, $150,100; Elma, $129,533; Ocosta, $178,139. The assignees of the defunct Wakefield State bank of Elma have filed a statement showing assets of $24,231. The bank was grossly mismanaged. A receiver will soon be appointed.

2. September 20, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, September 20, 1895

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Article Text

BANKER WAKEFIELD HELD. His Extraordinary Method of Conducting the Bank at Elma. Montesano. Sept. 19.-Special.-The examination of D. G. Wakefield. cashier of the suspended Wakefield State Bank of Elma, was concluded Tuesday evening, and the judgment of the court was that he give bonds in the sum of $1,500 for his appearance before the superior court for trial on a charge of receiving money as cashier of said bank when he knew the bank was insolvent The case has excited the most intense interest in this county, more, perhaps, than any which has come up in years. owing to the position of the accused and to the many charges and rumors as to the manner in which the bank has been managed. The testimony introduced by the prosecution showed a deplorable condition of affairs. At the time the bank closed its doors there was less than $35 in its safe. and If all its immediate cash assets had been converted into money a check for $160 could not have been paid. The schedule of assets furnished and filed in the court at the time of the assignment footed up over $24,000, while the testimony showed that the real estate, which had been placed at over $10,000 by the bank, was not in reality worth over $3,000. The latter value was that placed on it by the assessor and one of his deputies, while one of the principal witnesses for the defense testified that in his opinion the assessor had placed the value at least 12 per cent. too high. The testimony of the same witness as to the value of the personal security assets of the bank, which were listed at over $14,000. was that he would throw out about half of them and cut the other half in two. It seems from the statements made that there were no regular sets of books kept. but that the bank officials trusted to their memory to keep track of the business. The justice before whom the examination was held said in his remarks at the close that he considered the manner in which the bank had been conducted as worse than highway robbery and meriting the most severe punishment.

3. January 18, 1900 Aberdeen Herald Aberdeen, WA
Article from Aberdeen Herald, January 18, 1900

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Article Text

Same to Chas D Hurd. lot 7, blk 26, W & B add Aberdeen-$75. Chas Strassmyer to C D Hurd. e½ lot 4, blk 36, Orig plat Aberdeen-$700. Wakefield State Bank per Assignee to Jacob Anderson, blks 2 and 3, Eureka add Elma-$10. Jacob Anderson to J E Calder, same property-$10. L L Trask to J E Calder, lots 15 and 16, blk 1, C & C add Montesano-$150. Clara A Scammon to Nina L Calder, M 40 ft lots 78 and 9, blk 55, Westport, and blk 14, plat of Ch halis-$150. W J Hole to Nina L Calder, 40 ft off n end lots 7 S and 9, blk 55, Westport-$5. Frank A Davis to Nina L Calder, lot 24, blk 20, L & A add Elma-$75. Frank M Peterson to same, blks 89 12 and 63, plat Chehalis-$400. R H Milroy Jr to J I Calder, lots 13 and 14, blk 2, Mooney's plat Montesanc-$90. Nina I. Calder to F P Swinson, lot 9, blk 4, Ruddel's add Elma-$1. Emily Raby to Wm Hunt, und¹₃ lots 1 2 3 fand 5, blk A; lot 6, blk B; and lot 6, Llk 9, 1st add South Aberdeen-$200. Pacific Land Co to K F Johnson, lot 5, blk 1, Pacific Land Co add Aberdeen$60. Fern W Sherwood to Burrows & Stockwell, lot 4, blk 52, Benn's plat Aberdeen, also tide land between said lot and Chehalls river-$650. Rudolph Peterson to B S Weatherwax et al, n½ of sw1/4 and lots 1 and 2 sec 3521-9-$200. W S McLaughlin to H II Butler, SW 48 ft lots 12 and 3, blk 46, Cosmopolis-$75. Miscellaneous. Andrew Smith to Polson, Wilton Hdw Co, agreement to purchase hay baler$600. Tadenz Winiecki to Jas A Garrard, mtg sw14 sec 28-16-6-$300. Roy Young et al to H A Hayes, mtg 8 ½ of nw1/4, ne½ of nw½, nw½ of ne1/4 sec 22-19-9-$2300. Lombard Inv Co to A D Rider, assignment of mtg-$1300. A D Rider to Patrick Fitzgerald, rel of mtg e½ of nw1/4 and w½ sw1/4 sec 11-155-$1300. Convent St Rose to H A Hayes, mtg 69-100 acres commencing at sely corner of land deeded to St Joseph's Hospital by Benn-$1000. Henry Rosmond VS Mary J Hamilton, lis pendens to foreclose mtg gainst sw1/4 sec 26-19-9. Mrs J H Brewer to Western Music Co, cond sale piano-$180 T A Santabin to Montesano State Bank. chat mtg piling--$275. A M Phillips to Carr & Carr, chat mtg gen mdse-$200. Powell's bull to The Public, pedigree. U S to Mason Irwin, receiver's receipt se1/4 of se 1/4 sec 8-20-9. C F W Evans to Anna E Lindsey, bill of sale saw logs-$500. G P Reuter et al to A S Hodgdon, bill of sale logging outfit-$500. A S Hodgdon to Geo P Reuter et al,rel of chat mtg saw logs-$500. W L Brewer to Hayes & Hayes, chat mtg saw logs-$200. A A Brauer to The Public, land contract, und½ int lot 12, blk 41, Aberdeen. Michael Reilly VS Mary Evelyn Hill, lis pendens. C R Hine to C T Wooding et al, rel of judgment lot 4, blk 52, and lot 3, blk 53, Aberdeen, and adjoining tide lands-Val consd. Sheriff to Public, notice of levy on e½ of ne1/4 sec 23-21-9. Cora E Emerson to A J Dudley, revocation power of attorney. Maria A Larson to Aberdeen Shingle & Box Co, rel mtg lots 1 23 4 and 5; blk A; blk X; and lot 6, blk B, Aberdeen and tide land adjoining. Garman & Barkley to Natl Cash Reg Co, cond sale cash reg-$325. Effie Keith to Alex Lampe, bond for deed lot 6, blk 31, France's add Aberdeen-$100. Notice to Creditors. In the Superior Court of Washington for Chehalis County.