gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8e15560ccac25a5a
Response Measures
None
Events (2)
1.August 12, 1910Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a large shortage/irregularities in treasurer Richmond H. Ingersoll's accounts ( ~$300,000)
Newspaper Excerpt
the York county savings bank of this city had closed its doors because of alleged irregularities in the accounts of Richmond H. Ingersoll
Source
newspapers
2.October 31, 1910Reopening
Newspaper Excerpt
The trustees ... decided today to reopen the bank on Monday, Oct. 31. ... the law requiring notice of 90 days for the withdrawal of deposits will be enforced
Source
newspapers
Newspaper Articles (11)
1.August 14, 1910The San Francisco CallSan Francisco, CA
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Article Text
BANK CLOSES; TREASURER SHORT I BIDDEFORD, Me., Aug. 13.-A sensation was created today when it was officially announced that the York county savings bank of this city had closed its doors because of alleged irregularities in the accounts of Richmond H. Ingersoll, for 50 years treasurer of the institution. The bank is in the hands of State Bank Examiner William B. Skelton. Treasurer Ingersoll, in a letter left at the bank before he went to his home Wednesday, admitted a discrepancy in his accounts. The amout of the shortage is not known. Deposits of the bank, according to the last statement, amounted to $1,209,831. Most of the depositors are mill workers, and their individual deposits are small. The other three savings banks are prepared to meet a run when they open Monday.
2.August 14, 1910The Salt Lake Herald-RepublicanSalt Lake City, UT
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Article Text
BANK TREASURER SHORT York County Savings Institution at Biddeford, Me., Compelled to Close Doors. Biddeford, Me., Aug. 13.-A sensation was created in Biddeford and Saco today when it was officially announced that the York County Savings bank of this city had closed its doors because of alleged irregularities in the accounts of Richmond H. Ingersoll, for fifty years treasurer of the institution, and one of the leading citizens of Biddeford. The bank is in the hands of State Bank Examiner William B. Skellton of Lewiston, who, with President C. H. Prescott and the trustees, has been examining the books for several days. Treasurer Ingersoll, in a letter which he left at the bank before he went to his home Wednesday, admitted a discrepancy in his accounts. The amount of the shortage is not known. Deposits of the bank, according to the last statement, amounted to $1,209,831. Most of the depositors are mill workers in the Biddeford and Saco cotton mills, and their individual deposits are small. The other three savings banks are prepared to meet a run when they open Monday.
3.August 14, 1910The Salt Lake TribuneSalt Lake City, UT
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Article Text
CLOUD OF SUSPICION OVER VETERAN BANKER By Associated Press. BIDDEFORD, Me., Aug. 13.-A sensation was created In Biddeford and Saco today when it was officially announced that the York County Savings bank of this city had closed Its doors because of alleged irregularities in the accounts of Richmond H. Ingersoll, for fifty years treasurer of the institution and one of the leading citizens of Biddeford. The bank is in the hands of State Bank Examiner William B. Skellton of Lewiston. who, with President C. H. Prescott and the trustees, has been examining the books for several days. Treasurer Ingersoll, in a letter which he left at the bank before he went to his home Wednesday, admitted a discrepancy in his accounts. The amount of the shortage is not known. Deposits of the bank, according to the last statement, amounted to $1,209,831. Most of the depositors are mill work. ers in the Biddeford and Saco cotton mills and their individual deposits are small. The other three savings banks are prepared to meet a run when they open Monday.
4.August 14, 1910The Morning ExaminerOgden, UT
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Article Text
CASHIER FOR FIFTY YEARS GOES WRONG MIDDEFORD, Maine, Aug. 13.-A sensantion was created in Biddeford and Saco today when it was officially announced that the York County Savings Bank of this city had closed its doors because of Irregularities in the accounts of Richmond H. Ingersoll, for fifty years treasurer of the institution and one of the leading citisens of Biddeford The bank is in the hands of State Examiner William B. Skellton. of Lewiston. who with President C. H. Prescott and the trustees has been examining the books for several days. Treasurer Ingersoll in a letter which he left at the bank before he went to his home Wednesday, admitted a discrepancy in his accounts. The amount of the shortage is not known. Deposits of the bank accordIng to the last statement amounted to $1,209,831. Most of the depositors are mill workers in the Biddeford and Saco cotton mills and their individual deposits are small. The other three savings banks are prepared to meet a run when they open Monday.
BANK SHORTAGE ABOUT $10,000 (Special from United Press.) Riddeford, Me., Aug. 15.-According to a statement credited today to one of the trustees of the York County Savings Bank. which closed its doors last Saturday, the shortage may exceed $160,000. The bank officials would not confirm this statement, explaining that the examination of the books had not progressed far enough. Richmond H. Ingersoll. the bank's aged treasurer, is at the point of death. Physicians say he cannot last much longer. It is said that while Ingersoll covered the shortage the loss was not due to any improper act on his part. A run on other banks in this city is teared.
6.October 11, 1910Daily Kennebec JournalAugusta, ME
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Article Text
TO RESUME IN 10 DAYS. Probably Will Ask 90 Days' Notice for Withdrawal of Deposits. Biddeford, Me., Oct. 10.-President Charles H. Prescott of the York County Savings Bank, which has been closed since Aug. 12 as a result of the discovery of a shortage in the accounts of the treasurer, Richmond H. Ingersoll, announced tonight that the bank will resume business in about 10 days. The exact day when the doors of the institution will again be opened will be decided upon at a meeting of the trustees of the bank tomorrow. President Prescott made nis statement following the announcement of the court decree handed down by Justice King of the supreme court at Portland today, whereby the bank was ordered to scale down deposits 221 per cent. It is probable that the bank, on reopening, will take advantage of the 90 days' notice of intention to withdraw deposits, which is allowed by law, to prevent a possible run on the bank. Arrangements
7.October 15, 1910Daily Kennebec JournalAugusta, ME
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Article Text
York Co. Bank Depositors Accept. Biddeford, Me., Oct. 14.-Five hundred depositors of the York County Savings Bank, which was closed several months ago upon the discovery of a shortage in the accounts of the treasurer, Richmond H. Ingersoll, listened tonight to the final report of the committee appointed by them to assist the trustees in the readjustment of the bank's affairs. After various speakers had urged the advisability of keeping the bank running by maintaining deposits subject to the scaledown of 221 per cent. ordered by Judge Arno W. King of the State supreme court, rather than run the risk of greater losses through an application for a receivership, the report of the committee was unanimously adopted. The committee's report said that from a private account book found in the desk of Treasurer Ingersoll there was reason to believe that of the total shortage of about $300,000. a loss of $193,000 was due to bad investments made by the bank between 1874 and 1903. During this period of nearly 30 years the charges were charged off to the profit and loss account. It was charged also that the depositors have received in dividends part of the amount by which the bank is short. "It is not true," said the report, "that the trustees of the bank knew of the shortage before the bank was closed and withdrew their deposits." It is expected that the bond of the treasurer, $20,000, will be collected and will be added to the credit of the present depositors. A long letter was read from the State bank examiner, William B. Skelton of Lewiston, urging that the bank be allowed to resume business.
8.October 28, 1910Daily Kennebec JournalAugusta, ME
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Article Text
York County Bank To Open Oct. 31. Biddeford, Me., Oct. 27.-The trustees of the York County Savings Bank, which has been closed since August 4, following the discovery of an alleged shortage of $301,000 in the accounts of its treasurer, Richmond H. Ingersoll, decided today to reopen the bank on Monday, Oct. 31. The trustees announced that the law requiring notice of 90 days for the withdrawal of deposits will be enforced and that if there are indications that large sums will be withdrawn in that time the only alternative would be to petition the bank into bankruptcy. Mr. Ingersoll was indicted at the September term of court on the charge of larceny of $3500 and on account of his physical condition his trial was put over until the January term of the supreme court. He is now at his home under bonds.
9.October 28, 1910The Barre Daily TimesBarre, VT
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Article Text
BANK TO REOPEN MONDAY, Biddeford Trustees Decide to Enforce Law On Withdrawals. Biddeford, Me., Oct. 28.-The trustees of the York County Savings bank, which has been closed since Aug. 4, following the discovery of an alleged shortage of $301,000 in the accounts of its treasurer, Richmond H. Ingersoll, deeided yesterday to report the bank on Monday. Tn trustees announced that the law requiring notice of 90 days for the withdrawal of deposits would be enforced and that if there are indications that large sums will be withdrawn in that time ,the only alternative would be to petition the bank into bankruptcy.
10.November 1, 1910The Barre Daily TimesBarre, VT
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Article Text
BIDDEFORD BANK REOPENED. Little Money Withdrawn-Large Depositor Increases Account. Biddeford, Me., Nov. 1.-The doors of the York County Savings bank, which were closed by the state bank examiner August 12, when a discovery was made of discrepancies in the accounts of the former treasurer, Richmond H. Ingersoll, which later were found to aggregate more than $300,000, were reopened yesterday and business was resumed. Since the closing of the bank, the depositors' accounts have been scaled down 22½ per cent., by order of the supreme court, to make the bank solvent and enable the institution to resume business. The bank opened at 9 o'clock, and there was no evidence that the depositors would withdraw their funds to any extent. During the first hour, five or six drew sums less than $50, and two or three gave the required notice of 90 days that they wished to obtain their money, while one of the largest depositors increased his account. The business was about the same as on an ordinary Monday morning.
11.November 1, 1910Daily Kennebec JournalAugusta, ME
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Article Text
YORK COUNTY BANK OPENS. Few Withdrawals by DepositorsAbout Usual Amount of Business. Biddeford, Me., Oct. 31.-The doors of the York County Savings bank, which were closed by the State bank examiner on August 12, when a discovery was made of discrepancies in the accounts of Former Treasurer Richmond H. Ingersoll, which later were found to aggregate more than $300,000, were réopened and business was resumed today. Since the closing of the bank the depositors' accounts have been scaled down 22 1-2 per cent. by order of the supreme court to make the bank solvent and enable the institution to resume business. The bank opened at 9 o'clock and there was no evidence that the depositors would withdraw their funds to any extent. During the first hour five or six drew sums less than $50, and two or three gave the required notice of 90 days that they wished to obtain their money, while one of the largest depositors increased his account. The business was about the same as on an ordinary Monday morning.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
