gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
74507767257a8970
Response Measures
None
Description
Reports give varying deficit estimates ($40,000β$70,000) from the cashier's embezzlement.
Events (2)
1.July 14, 1886Receivership
Newspaper Excerpt
The directors of the bank have filed a petition for a receiver. W. H. Thompson, of the Commercial bank, has been appointed receiver.
Source
newspapers
2.July 14, 1886Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier Almond B. (A.) B. Thompson absconded after large defalcations (reported $40,000β$70,000), forcing suspension.
Newspaper Excerpt
The Provident Savings Bank closed its doors to-day and has made an assignment. Almond B. Thompson, the cashier, has absconded.
Source
newspapers
Newspaper Articles (22)
1.July 15, 1886Savannah Morning NewsSavannah, GA
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BANK DOORS BOLTED. A Deficiency of $40,000 Found in the Fugitive Cashier's Accounts. ST. LOUIS, Mo., July 14.-The Provident Savings Bank closed its doors to-day and has made an assignment. Almond B. Thompson, the cashier, has absoonded. The liabilities exceed the assets by $40,000. Thompson is a graduate of Harvard College, and since he bas held his responsible position in this city has been regarded as a man of sterling integrity. He is President of the Harvard Club of this city and a member of the Light Cavalry, and a prominent Knight Templar. He announced his intention in the latter part of last week of accompanying the Light Cavalry to the State encampment, and it was generally supposed he was there. Advices from that point, however, state that be has never been near the camp, and it is supposed that he has joined the army of defaulters in Canada. No other cause for his defalcation can be assigned other than fast living, for he has never been known to speculate. The directors of the bank have filed a petition for a receiver. The President of the bank, J. S. Garland, has been absent from the city for about six months, and the cashier has assumed the President's duties as well as his own. The bank'sstatement of yesterday shows assets of $1,165,000 and liabilities $985,000. The directors of the bank state that they will not be able to realize on apparent assets to their full extent by a large sum. W. H. Thompson, of the Commercial bank, has been appointed receiver. Large crowds of depositors congregated around the bank anxious to know the nature of the embarrassment. The excitement increased until it became necessary to call the police. The largest number of depositors are clerks and poor men and women. W. H. Thompson, the receiver, says that the bank has been carefully managed, and few if any bad loans exist, and it is bis opinion that the depositors will be paid in full. DE RIVERA'S FLIGHT. NEW YORK, July 14.-Some defect having been made in the assignment of De Rivera & Co. several days ago a new assignment was prepared and filed to-day in the County Clerk's office, in which Emet R. Olcott is preferred for professional services rendered the firm as counsel. Mr. Olcott has also taken proceedings in the Supreme Court, and has obtained an attachment against the property of Henry C. de Rivera from Judge Barrett upon a claim that he rendered professional services in 1884 and 1866, for which he alleges be 18 entitled to $3,000. He has not been able to find De Rivera in this State and believes that he has abseconded. De Rivera's father, and also his partner, are of the same opinton. Upon this ground the attachment was granted. De Rivera is reported to be in Montreal. The liabilities of the firm are put at $500,000 by common rumor in the absence of an official statement.
2.July 15, 1886The Emporia Weekly NewsEmporia, KS
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Article Text
ST. LOUIS, July 14,-The Provident Savings bank closed its doors and has made an assignment. Al. Thompson, cashier, has abscobdeΔ. The liabilities will exceed the assets by $40,000. Thompson is & graduate of Harvard college, and since he has held his responsible position in this city has been regarded as a man of sterling integrity. He 18 president of the Harvard club of this city and of the light cavalry and & prominent Knight Templar. He announced his intention the latter part of last week of accompanying the light cavalry to the state encampment at Sweet Springs and It was generally supposed that he was there. Advices from that point, however, state that he has never been near the camp and it is supposed that he has joined the army of defaulters in Canada. No cause for his defalcation is assigned other than fast living, for he has never been known to speculate. The directors of the bank have filed application for & receiver.
3.July 15, 1886St. Paul Daily GlobeSaint Paul, MN
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The Cashier is Gone. ST. LOUIS, July 54,-The Provident Saving bank closed its doors to-day and has made an assignment. Almond B. Thompson, the cashier, has absconded. The liabilities exceed the assets by $40,000. W. H. Thompson was appointed receiver. There is a prospect that depositors will be paid in full.
4.July 15, 1886The Memphis AppealMemphis, TN
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RUINED BY THE CASHIER GREAT SENSATION AT ST. LOUIS OVER THE Failure of the Provident Savings Bank-A Defalcation of Fifty Thousand Dollars. Sr. LOUIS, Mo., July 14-The Provident Savings Bank closed its doors today and mac e an assignment. Almond B. Thomson, the cashier, has absconded. The liabilities exceed the assets $40,000. THOMSON is a graduate of Harvard College, and since he has held his responsib'e position in this city has been regarded as a man of sterling integrity. He is pres. ident of the Harvard Club of this city, and of the Light Cavalry, and a prominent Knight Templar. Heannounced his intention, the latter part of last week, of accompanying the Light Artillery to the State encampment at Sweet Springs, and it was generally supposed thet be was there. Advices from that point, however, state that he has never been near the camp, and it is supposed that he has joined the army of defaulters in Canada. No other cause for the defalcation can be assigned than fast living, for he has never been known to speculate. The directors of the bank have filed a petition for a receiver. EX-JUDGE ADAM, of the firm of Boyle, Adams & Mc. Keighan, filed with Judge Lubke, in Chambers, a petition for a receiver for the bank for Charles Greely, a heavy depositor. The petition states that Cashier Thomson has not been at the bank since July 12th, and they believe that he doss not intend to return to his position, that a partial examination of his books shows a deficit of over $40,000, and they believe that a fuller investigation will swell the amount to a much larger sum. The president of the bank, J. S. Garland, has been absent from the city for about six months, and the cashier has assumed his duties as well as his own. The bank's statement of yesterday is 88 follows:
5.July 16, 1886Weekly GraphicKirksville, MO
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offices under the state at the same time. Our information is that, Mr. Higbee does not expect the state to furnish him an office and pay rent for same. Our information is that, Mr. Higbee has no pets or brothers in the legal profession whom he feels should "be braced up" and strengthened in their business. Our information is that, Mr.Higbee is not only respectable and an intelligent lawyer, but a gentleman in the broadest sense and as said, before his nomination, by the 'Lancastor Excelsior,' the Democratic paper of Schuyler county, 'He will honor the bench as he has done the bar." ---The Provident Savings Bank of St. Louis, suspended payment Wednesday morning, caused by A. B. Thompson, the cashier embezzling nearly $50,000. The deposits are nearly one million dollars. The depositors are nearly all poor people and the receiver asserts that they will be paid dollar for dollar. -The execution of the laws are entrusted to judges and juries. What is wanted in a judge is the requisite amount of legal learning, a pure and upright character, a judicial turn of mind, independence of thought, and aptitude and promptness in the dispatch of business. These qualities will always make a good judge, and are presented to the voters of the 27th judicial district in the person of Mr. Higbee, the Republican candidate for Circuit Judge.
6.July 16, 1886The Palatka Daily NewsPalatka, FL
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PALATKA, FLA., JULY 16, 1886. The Provident Savings Bank, of St. Louis, which seems to have been an improvident affair, has closed its doors and assigned. The cashier has absconded. The liabilities exceed the assets by $10,000.
7.July 16, 1886St. Paul Daily GlobeSaint Paul, MN
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THE ST. LOUIS CASHIER. is Now Thought He Made Away With $70,000. ST. LOUIS, Mo., July 15.-Mr. Charles Greely, the largest stockholder of the Provident savings bank, which failed yesterday, makes the following statement as to how the event was brought about: When the board of directors counted the cashier's reserve fund two weeks ago, preparatory to declaring their dividends, they found $40,000 in the bank vaults. The might watchman informed me last evening that Mr. Thompson entered the bank building on Saturday evening at about 10:30 o'clock, and it was undoubtedly then that the cashier saited $15,000 of the fund in his pocket and the greatest surprise to me is that he did not anpropriate the rest of it. The first discovery of the shortage was made last Friday by me, and it came like this: Mr. Swain, the acting president of the bank, on that day came to my place of business and informed me that the directors had just loaned Thompson $8,000 on 100 shares of the Crystal Plate Glass company's stock, which he as a had collateral. deposited Now, I am a director of that corporation and had assisted in the disbursements of dividends, and I was in a position to know that Thompson did not hold 100 shares of stock. Going immediately to our treasurer, Mr. Barnes, I had him furnish me a list of the stockholders. In this list I found on Oct. 9, 1885, a eertificate numbered 378, calling for one share of the capital stock, had been issued to Almond B. Thompson. I called the attention of the board of directors to this, but Thompson explained that the other ninety-nine shares had been transferred to him and not yet delivered. He said if the board demanded it he would return the amount of the loan on Monday. When he did not show up on Monday my fears received a substantial acknowledgment of his crookedness. I went to the bank and by means of a microscope detected very plainly that the certificate had been raised from one share to 100, and that the date had also been altered. Further examination of his books showed that his rascality had been going on since 1883. Since that time he has carried a fraudulent entry on the foreign exchange account, involving $20,000. His total shortage will doubtless amount to $70,000. I agree with the receiver, however, that the depositors will be paid in full, even at the expense of the stockholders. The bank will never resume operations.
8.July 19, 1886Grant County HeraldLancaster, WI
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The Provident Savings Bank, of St. Louis, suspended payment last Wednesday, with a deficit of $40,000. The cashier, A. B. Thomson, absconded.
9.July 20, 1886Daily RepublicanWilmington, DE
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Big Men Who Steal. Captain James B. Willing, of the oyster packing firm of William L. Ellis & Co., of Baltimore, disappeared about ten days ago, and it is said that about $35,000 belonging to his friends has also disa ppeared. He was a member of the last State Legislature and was instru mental in having a bill passed refunding money paid by owners of oyster vessele as a tonnage tax. Certificates amounting to $2,800 were entrusted to him for collection. He had them cashed, but failed to make returns. He also borrowed largely from some of his friends, and several notes recently due were allowed to go to protest. Willing was also administrator of the estate of a deceased cousin, and is believed to have mismanaged it As far as can be learned the firm of William L. Ellis & Co. has not been obligated by the ab. sconder. At St. Louis yesterday, warrants were sworn out by an attorney for Barr and Widen, depositors of the broken Provident Savings Bank, for the arrest of the officers and directors of the bank for alleged criminal violation of the banking law. The document states "that on the 14th day of July. 1886, Charles H. Smith, Charles B. Creely, George Scott, Wm. P. Mullin, Thomas H. Maine, fl. R. Thomson and James 8. Garland, being the officers of the bank, received or assisted to the reception of $130 as deposit, knowing at the time that the institution was insolvent or in failing circumstances." Samuel K. Gay, the absconding pension agent, was brought back to Pittsborg last night. He confessses his guilt, but says he did not steal more than $4,000. A special examiner from Washington is now engaged in running over the books of the Pittsburg pension office, to get at the extent of Gay's defalcation. The job is DO light one, as 18,009 pensioners are paid from the Pittsburg agency every quarter. As the books for the last three years have to be gone over, nearly 216 000 different accounts must be examined.
10.July 22, 1886Iron County RegisterIronton, MO
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THE Provident Savings Bank, of St. Louis, suspended payment at noon on the 14th. Investigation showed the cashier, A. B. Thompson, a defaulter the extent of about $70,000.
11.July 24, 1886The Milan ExchangeMilan, TN
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THE Provident Savings Bank, of St. Louis, suspended payment at noon on the 14th. Investigation showed the cashier, A. B. Thompson, a defaulter the extent of about $70,000.
12.July 24, 1886The Milan ExchangeMilan, TN
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THE receiver of the Provident Savings Bank of St. Louis has not yet been able to find out what the condition of the wrecked bank is. He only seems to know that no payment can be made to depositors before October.
13.July 24, 1886St. Landry DemocratOpelousas, LA
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THE Provident Savings Bank, of St. Louis, suspended payment at noon on the 14th. Investigation showed the cashier, A. B. Thompson, a defaulter the extent of . about $70,000.
14.July 25, 1886New-York TribuneNew York, NY
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TO RELIKVETHE PROVIDENT SAVINGS BANK. ST. Louis, July 24.-The receiver of the Provident Savings Bank has petitioned the Circuit Court
PROVIDENT SAVINGS BANK. Cashier Thompson's Bondsmen Offer to Make Good His Defalcation. ST. LOUIS, July 24.-The receiver of the Provident Savings Bank has petitioned the Circuit Court for advice and direction relative to a settlement with the bonds. men of Almon B. Thompson, the defaulting cashier. In the petition the receiver states that he has received from Richard M. Scruggs a proposition from the bondsmen, of which he is one, which proposes to cover the entire amount of the defalcation provided that there shall be returned to them all evidences of Thompson's irregularities. It is believed that the court will approve the plan 80 that the depositors may be paid in full. Judge Lubke in Chambers, to-day, ordered all the money deposited and all drafts and checks left for collection with the Provident Savings Bank on Wednes. day, July 14, before the doors of the bank were closed, should be returned in full, and not placed in the general fund. The Judge in the order stated that he is convinced that the officers of the bank knew that it was in failing circumstances at that time, and all money deposited after they knew it should be returned. New information was filed in the Court of Criminal Correction this afternoon, charging the officers and Directors of the Provident Savings Bank with grand larceny. The information is similar in effect to that filed previously by another plaintiff. The plaintiffs in the second suit are Julian Crutwell & Co., who allege that on Tuesday, the 13th inst., the Directors of the Provident Savings Bank, who then knew the institution to be in a failing condition, assented to the reception of a deposit of $203 75 from the plaintiffs. The Directors and officers of the bank, excepting the abeconded Cashier, appeared to answer the charge.
16.July 28, 1886Watertown RepublicanWatertown, WI
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HOPE FOR DEPOSITORS. Proposition from the Bondsmen of the St. Louis Bank Defaulter. ST. LOUIS, Mo., July 24.-The receiver of the Provident Savings Bank has petitioned the circuit court for advice and direction relative to a settlement with the bondsmen of Almon B. Thompson, the defaulting cashier. In the petition the receiver statesthat he has received from Richard M. Scruggs a proposition from the bondsmen, of
17.July 28, 1886Watertown RepublicanWatertown, WI
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which he is one, which proposes to cover the entire amount of the defalcation, provided there shall be returned to them all evidence of Thompson's irregularities. Itis believed that the court will approve the plan, SO that the depositors may be paid in full. Judge Lubke, in chambers, to-day, ordered that all the money deposited and all drafts and checksleftfor collection with the Provident Savings Bank on Wednesday, July 14, before the doors of the bank were closed, should be returned in full and not placed in the general fund. The Judge, in the order, states that he is convinced that the officers of the bank knew that it was in failing circumstances at that time, and that all money deposited after they knew it, should be returned. NEW YORK, July 24.-Attachments have been granted by the supreme court against the property in this state of the Provident Savings Bank of St. Louis, Mo., in three suits brought by Le Grand L. Benedict under claims assigned to him by Mary A. Shepley amounting to $10,140.73.
18.July 29, 1886The Brookhaven LeaderBrookhaven, MS
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THE sureties of Cashier Thomson of the Provident Savings Bank, St. Louis, have made a proposition to settle the deficit, and Receiver Thompson has filed a petition for instructions and advice from the court.
19.July 29, 1886Iron County RegisterIronton, MO
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THE sureties of Cashier Thomson of the Provident Savings Bank, St. Louis, have made a proposition to settle the deficit, and Receiver Thompson has filed a petition for instructions and advice from the court.
20.July 31, 1886Huntsville GazetteHuntsville, AL
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THE sureties of Cashier Thomson of the Provident Savings Bank, St. Louis, have made a proposition to settle the deficit, and Receiver Thompson has filed a petition for instructions and advice from the court.
21.July 31, 1886The Milan ExchangeMilan, TN
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THE sureties of Cashier Thomson of the Provident Savings Bank, St. Louis, have made a proposition to settle the deficit, and Receiver Thompson has filed a petition for instructions and advice from the court.
22.October 5, 1886Omaha Daily BeeOmaha, NE
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Fifty Cents on the Dollar. ST. LOUIS. Oct. 4.-The receiver of the Provident Savings bank announced to the court to-day that enough of the bank's assets had been realized upon to warrant the declaration of a dividend of fifty per cent. The court authorized such dividend to be declared, and it is now being paid to depositors.
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.
