First National Bank (Tipton, IN)

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Episode Information

Episode UID
625101315
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
62510 national
Charter Number
6251
Start Date
July 26, 1909
Location
Tipton, Indiana (40.282, -86.041)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
35a4a5740e409d35

Response Measures

None

Description

Closure followed alleged large defalcation by assistant cashier; stockholders later made up shortage and bank reopened.

Events (5)
1. May 12, 1902 Chartered
Source
historical_nic
2. July 26, 1909 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Assistant cashier Noah R. Marker disappeared after large alleged defalcations (initial reports $85,000; later figures up to $130,000–150,000), prompting closure by treasury examiners.
Newspaper Excerpt
placard announcing that Marker had absconded with all the bank's available cash and that the institution would be closed until further instructions had been received from the treasury department at Washington.
Source
newspapers
3. August 16, 1909 Reopening
Newspaper Excerpt
The First National Bank, of this city, which closed its doors July 26 ... was reopened for business to-day.
Source
newspapers
4. August 28, 1909 Other
Newspaper Excerpt
A run was prevented today by the announcement that the directors have plenty of cash.
Source
newspapers
5. May 5, 1927 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (18)
1. July 27, 1909 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, July 27, 1909

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HE WAS A GOOD FELLOW But Noah Marker Robbed the Bank of at Least $85,000. Tipton, Ind., July 27.-How much money is missing from the First National bank, of which Noah Marker, who has disappeared, was assistant cashier, continued today, a secret. Anxious depositors gathered near the bank today curiously discussing the placard announcing that Marker had absconded with all the bank's available cash and that the institution would be closed until further instructions had been received from the treasury department at Washington. Bank Examiner W. D. Frazer, of Warsaw, Ind., was expected to arrive today and take charge of the books. At least $25,000, it has been discovered, had been missing before Marker left. This brings the total of money missing so far as now positively known to $85,000. It is alleged that the interest bearing accounts of the bank particularly, have been manipulated. The total of these is about $400,000. As most of them were undisturbed by their depositors for long periods, it was comparatively easy to draw from them. The total deposits in the bank is $800,000. The institution has been extraordinarily prosperous under the management of William Marker, the cashier, and his brother, the missing man. In the last six years, according to the reports of the treasury department at Washington it has paid dividends of $200,000 on its capital stock of $100,000 or at the rate of 33 1/3 per cent. In business circles the Marker brothers have been known for years as the "best of fellows." With one exception, the bank has made a larger number of loans than any other bank in Indiana. Forces 2 Receivership. Lima, O., July 27.-The First National bank of Tipton, Ind., today entered replevin proceedings for $40,000 in the Cuyahoga county bonds. placed in escrow here by the Farmers and Citizens' Live Stock Insurance company at the command of State Insurance Inspector Lemert. The action forced a receivership for the insurance company today. Attorneys for the insurance company claim the Tipton bank has no interest in the bonds and declare the company is solvent.

2. July 28, 1909 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, July 28, 1909

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PROBES BANK AFFAIRS. Examiner-at-Large Seeks Cause to Arrest Tipton, Ind., Banker. Tipton, Ind., July 28.-Examination of the affairs of the First National Bank, was begun today by Miller Weir, examiner-at-large, to determine the exact amount of the losses incurred thru the alleged defalcation of Noah R. Marker. assistant cashier. Until Weir makes his report. It will not be known whether the bank shall be reopened, or shall be placed in the hands of a receiver. Secret agents of the treasury department are investigating Marker's life here, in the hope of discovering some clue that may lead to his apprehension.

3. July 28, 1909 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, July 28, 1909

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OPENS BOOKS OF THE BANK Examiner Will Find Out Just How Much Marker Stole. Tipton, Ind., July 28.-Examination of the affiffairs of the First National bank was begun today by Miller Weir, examiner at large, to determine the exact amount of the losses incurred through the alleged defalcation of Noah R. Marker, assistant cashier. Until Weir makes his report it will not be known whether the bank shall be reopened or shall be placed in the hands of receivers. Secret agents of the treasury department are investigating Marker's life here in the hope of discovering some clew that may lead to his apprehension.

4. July 29, 1909 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, July 29, 1909

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TELEGRAPH NEWS BRIEF pleton's 19-year-old son and 17-year-old Taft Relative Killed - Mrs. daughter pending their mother's reWilliam Chase, said to be a relative of lease. President Taft, was struck and killed an Erie train at Middletown, N. Y., Physician Goes Insane - Dr. resterday. John Atcherly, a well known physician, who graduated from several English Elks Attend Fair - Elks' day colleges with high honors in medicine, the world's fair was celebrated by has been adjudged insane in Honolulu. nany members of the order yesterday Dr. Atcherly claims to have discovered Seattle. Grand Exalted Ruler J. U. a leprosy cure, the secret of which he Sammis was a conspicuous figure in claims several officials of the territory he parades. are attempting to steal from him. Recently he fired several shots at Dr. Woman Drinks Acid - Mrs. Wayson of the board of health. Caroline Guntern committed suicide in San Francisco early yesterday by takMurder Suspect Arrested - A carbolic acid. Her dead body was man said to resemble Jack Simpkins, found by her husband in the attic of wanted at Boise, Idaho, to answer a their home. charge of complicity in the murder of former Governor Steunenberg, is under Lambert Postpones Flight arrest at The Dalles, Ore. He gives Calais dispatches say Count De Lamthe name of Nels Nelson. The Idaho bert has decided to abandon his atauthorities have been notified. Simpempt to cross the English channel with kins has been missing since about the aeroplane until September, when time of the trial of Harry Orchard at hopes the weather will be more Boise in connection with the Steunensettled. berg murder. Official Indicted-Direct inforState Files Appeal-An appeal nation was filed yesterday in Seattle to the United States supreme court against former Comptroller John Ripfrom the decision of Judge Smith Mcinger on two counts, alleging that he Pherson in the Missouri railroad rate converted to his own use checks for cases was filed by Sanford B. Ladd, $500 and $260, given to him as comprepresenting the state, in the United roller. His alleged shortage is $80,000. States district court in Kansas City yesterday. In his decision Judge MeAppoints Supervisor - GoverPherson declared the Missouri railroad Gillett has appointed John C. Coch. passenger and freight law was conane a member of the board of superfiscatory and unconstitutional. visors of Humboldt county to take the place made vacant by the resignation Coal Heats in Hold-A cable of Hector McLeod, who has also remessage received yesterday by the San signed as representative from the Fifth Francisco Merchants' exchange from district. Punta Arenas, in the Straits of Magellan, says the steamer Arizonan of Confessed Murderer Heldthe American-Hawaiian company's James Cunningham, the laborer who fleet, bound from Norfolk, Va., to San shot and killed Miss Caroline Brasch in Francisco with coal for the United the office of a contracting firm several States government, arrived there yesweeks ago, offered no defense at the terday morning with the coal in comconclusion of his preliminary examinapartment No. 2 of her hold so badly tion yesterday in San Francisco and heated that the entire cargo will be was held to answer in the superior shifted before the vessel proceeds on court. her voyage. Secretary Kills Himself-John Bank Is Crippled-An examiStuart, who is said to have been nation of the affairs of the First Naconfidential secretary to James Hazen tional bank of Tipton, Ind., was begun Hyde when the latter was vice presiyesterday by Miller Weir, examiner at lent of the Equitable Life Assurance large for the treasury department, to society of New York, committed suicide determine the exact amount of the yesterday a short distance from his losses incurred in the institution, of cabin near Mukilteo, Wash., by shootwhich Noah R. Marker was the assisthimself in the body and head. ant cashier. Marker disappeared last Saturday. The shortage in the bank's Jail Escape Returns-George funds is $110,000. Until Mr. Weir Upshure, "absent without leave" from makes his report it will not be known state prison, where he was sentenced whether the bank will be reopened or or conducting a "blind tiger," walked placed in the hands of a receiver. on Governor Noel in Jackson, Miss.,

5. July 30, 1909 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, July 30, 1909

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CASHIER TOOK $100,000 BUT IS NOW UNDER ARREST. Tipton, Ind., July 30.-Noah Marker. assistant cashier, whose alleged defalcation of more than $100,000 of the funds of the First National Bank caused the suspension of the bank, when he disappeared on Monday, returned to here today. On the departure of Marker he left a note saying he was gone for good and had taken expense money. On the advice of his counsel he refused to say more than that he had been at St. Louis, awaiting the arrival of the federal authorities.

6. August 5, 1909 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, August 5, 1909

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Tipton Bank Short $130,000. Tipton, Ind., Aug. 4.-President Shirk of the First National bank of this city, whose home is in Peru, Ind., reached here yesterday and went over the report that Examiner Weir is preparing for the department at Washington. Neither he nor the examiner would give out anything in respect to the report, but it is understood from other reliable sources that Marker's shortage, if the bad debts are considered. will run close to $130,000.

7. August 5, 1909 The Mena Weekly Star Mena, AR
Article from The Mena Weekly Star, August 5, 1909

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on incomes." TIPTON SHORTAGE IS $110,000 Defaulting Cashier Got $50,000 From Time to Time-Bank May Not Re-open. Tipton, Ind., July 29.-An examination of the affairs of the First National bank of this city was begun to-day by Miller Weir, examiner at large for the treasury department, to determine the exact amount of the losses incurred in the institution of which Noah B. Marker was the assistant cashier. Marker disappeared last Saturday evening leaving a note saying "he could stand it no longer," and that he had taken "enough mouey to pay his expenses." Sixty thousand dollars in cash was mising after Marker's departue. It has been known In the last few days that the books of the bank were in bad condition and that thousands of dollars had been taken from the bank's funds thropgh a period of 18 months. The total of this shortage, it was said to-day, would reach $50,000, and perhaps more. Added to the 'oss of $60,000 in cash, the whole shortage in the bank's funds is $110,000. Until Mr. Weir makes his report it will not be known whether the bank will be reopened or shall be placed in the hands of a receiver.

8. August 11, 1909 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, August 11, 1909

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of the army and in the event of his appointment quiet could be maintained ontil the success'ul solution of the difficulty by diplomatic means. In any event the crisis will pass within the next few days. Deputy Comptroller of the Currency Fowler went today to Tipton, Ind., to examine into the condition of the First National Bank there, the ceshier of which, it is alleged, losted the institution of $50,000 a short time ago. He will determine by a personal investigation whether it is necessary to put the bank in the hands of a receiver. The wooden ship Enterprise, which with the Alliance, the Constitution and several others is listed in the navy as unserviceable for war purposes, was ordered sold today by the bureau of navigation. She is at present used by the public marine school at Boston. She was launched at Kittery, Maine, in 1876. In command of Commander Selfridge, she made a survey of the Amazon and the Tara and later on made an evential trip around the world. The total excavations for the month of July (n the Panama Canal w&s 2,843, 260 cubic yards, according to dispatches received today from the isthmus. This is a decrease of 313,090 cubic yards compared with the corresponding month of last year. To secure an issue of bonds to the amount of $500,000 the Potomac and Chesapeake Steamboat Company today placed on record a mortgage upon its steamboats, property and franchises. The money realized from the bond issue will be used for the improvement of the interests of the company. Similar action was taken by the Colonial Beach Company. Instructions have been issued by the internal revenue bureau of the Treasury Department prohibiting after September 1 rectifiers of spirits from making wine mash and using it to make compound liquors. It is understood that the practices have led to frauds of the revenues, and it has been decided to stop it altogether. A cablegram received at the insular bureau of the War Department from Manila today, savs that the number of cigars exported to the Uni ed States in the last six months has been 2,914,000. A million or more of these cigars were sent here in anticipation of free trade under the new tariff law and were held in bond until it was enacted. Under the new law the Filipinos are permitted to send in 150,000,000 cigars a year free of duty, but the government officials are under the impression hat it will be many years before that limit is reached. The commissioners [have forwarded Congress an unfavorable report on the bill introduced by Representative Lamb "to authorize citizens of the District of Columbia to vote on the excise law."

9. August 11, 1909 The Washington Times Washington, DC
Article from The Washington Times, August 11, 1909

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GOES TO EXAMINE TIPTON, IND., BANK Deputy Comptroller of the Currency Fowler went today to Tipton, Ind., to examine into the condition of the First National Bank there, the cashier of which, it is alleged, looted the institution of $50,000 a short time ago. He will determine by a personal. investigation whether it is necessary to put the bank in the hands of a receiver.

10. August 12, 1909 Evening Star Washington, DC
Article from Evening Star, August 12, 1909

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Tipton Bank to Liquidate. From a telegram received by Controller of the Currency Murray today from Deputy Controller Fowler, who is now at Tipton, Ind., it appears likely that the First National Bank of that city will be permitted to go into voluntary liquidation. Mr. Fowler went to Tipton two days ago after it developed that the reported shortage in the accounts of the cashier of the bank was more serious than first reported. The stockholders have indicated that they will be able to meet the claims of all depositors, in which event receivership will be avoided.

11. August 14, 1909 The Lake County Times Hammond, IN
Article from The Lake County Times, August 14, 1909

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ADVOCATE UNIVERSAL LABEL. "A Universal Label for Union Goods" was the slogan of the First District organized labor conference at Princeton yesterday with representatives from more than 100 locals of all trades. Mathew Hollenberger of Evansville said the time had come when a universal label is necessary and his resolution to that effect was adopted. First District delegates will try to further this at the next state labor meeting. The sessions were presided over by President Frank Brown of Boonville and more than 200 were present. REFORMATORY CONTRACT LET. Despite the halt called in July by Governor Marshall on the awarding of the contract for the remodeling of the state reformatory heating plant at Jeffersonville, the contract was awarded Thursday to the same firm that had the lowest bid in July, the Indiana Engineering company of this city. When the bid was accepted and the contract awarded, an opportunity was given by Thomas B. Orr, president of the board, to other bidders to raise objections, but none made any appeal from the decision. TWO KILLED BY LIGHTNING. Two young men, who sought refuge in a barn at Peru, were instantly killed late Thursday afternoon during an electrical storm and six others were severely shocked when a lightning bolt vi struck the building. The dead are: HARRY WILSON, son of, Ed Wilson. HARRY HAUK, guest of Harry Wilson. Injured: MR. and MRS. ED WILSON and daughter. MR. and MRS. GEORGE HOLT and baby. 1 The. barn at once took fire and was in full flame when the neighbors rushed in. FEAR BANK WILL NOT REOPEN. 1 The crisis in the matters of the First National Bank of Tipton, depleted of $105,000 by Noah R. Marker through speculation, is at hand. While the gov1 ernment agents are-being assured the bank will be opened either Friday or Saturday, ready to pay all demands, S there is a state of suspended excitement because of promised developments. TEMPERANCE MEETINGS HELD. e Another temperance session will be observed at Bethany Park, Indianapoe lis today. The prohibitionists at the park had their inning several days ago, and today's gathering will be conducted by those who, while they favor all e anti-saloon movements, are not friendly to the prohibition party, preferring S to exert their efforts against the liquor

12. August 17, 1909 New-York Tribune New York, NY
Article from New-York Tribune, August 17, 1909

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TELEGRAPHIC NEWS NOTES. No Run on Reopened Tipton Bank. Tipton, Ind., Aug. 16.-The First National Bank, of this city, which closed its doors July 26, after the disappearance of Noah Marker, assistant cashier, was reopened for business to-day. A number of deposits were made and several small amounts were withdrawn. Bundles of banknotes aggregating $250,000 were piled up on the counters behind the desks.

13. August 21, 1909 Evening Star Washington, DC
Article from Evening Star, August 21, 1909

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Receiver for Indiana Plant. TIPTON, Ind., August 21.-On the application of the First National Bank, which recently was reopened after a shortage of $150,000 in its funds had been made good by the stockholders, a receiver was appointed today for the Beeler Manufacturing Companies, with factories here and at Alexandria, Ind. The liabilities of the company are $58,000, it is said, and its assets $30,000. The bank is the most concerned creditor.

14. August 26, 1909 The Clarksburg Telegram Clarksburg, WV
Article from The Clarksburg Telegram, August 26, 1909

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RECEIVER NAMED For the Beeler Company at the Instance of a Reopened Bank. TIPTON, Ind., Aug. 21-On the application of the First National Bank which recently reopened after a shortage of $150,000 in its funds had been made good by the stockholders, a receiver was appointed today for the Beeler Manufacturing Company with factories here and at Alexandria, Ind. The liabilities of the company are $58,000 and its assets $30,000. The bank is the most concerned creditor.

15. August 28, 1909 New-York Tribune New York, NY
Article from New-York Tribune, August 28, 1909

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TAKE TIPTON BANK HEAD. President Shirk Charged with Misapplying $24,000 in Funds. Chicago, Aug. 27.-Elvert W. Shirk, president of the First National Bank of Tipton, Ind., was arrested at the Calumet Club here to-day, charged with misapplying $24,252 of the bank's money. It is alleged in a complaint lodged with United States Commissioner Foote that Shirk obtained the money through drafts made payable to himself. The alleged shortage is said to have occurred on July 23. The bank suspended for a few days, but resumed business, and the federal authorities began an investigation. The bank closed after the assistant cashier fled, taking with him, it is alleged, all the available cash.

16. August 28, 1909 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, August 28, 1909

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Chicago, Aug. 27.-Elvert W. Shirk, presidrt of the First National Bank of Tipton, Ind., was arrested here today, charged with misapplying $24. 252 of the bank's money. It is alleged in the complaint lodged with United States Commissioner Foote, that Shirk obtained the money through drafts made payable to him. self. The alleged shortage is said to have occurred on July 23rd, the bank suspended for a few days, but resumed business. and the fedral authorites begah an investigation. Shirk gave bond of $20,000 before

17. August 28, 1909 The Paducah Evening Sun Paducah, KY
Article from The Paducah Evening Sun, August 28, 1909

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PRESIDENT ARRESTED FOR MISAPPLYING FUNDS Chicago, Aug. 28.-Elvert W, Shirk, president of the First National bank of Tipton, Ind., was arrested here today, charged with misapplying $24,252 of the bank's money. It is alleged in the complaint lodged with United States Commissioner Foote that Shirk obtained the money through drafts made payable to himself. The alleged shortage Is said to have occurred on July 23rd, the bank suspended for a few days, but resumed business, and the federal Allthorities began an investigation. Shirk gave bond of $20,000 before United States Commissioner Foote and was released. Speaking of his arrest, Shirk said he held a note of the bank for $24,252, that Cashier Marker failed to give him credit for

18. August 30, 1909 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, August 30, 1909

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# Another Banker Arrested. Tipton, Ind., Aug. 28.-W. H. Marker, former cashier of the First National bank, was arrested following the arrest of president E. W. Shirk in Chiscago yesterday. Shirk is accused of the appropriation of twenty-four thousand dollars. He was released on twenty thousand dollars bail. Marker is a brother of Noah R. Marker, whose disappearance recently precipitated the closing of his bank by the treasury department. It was allowed to resume two weeks ago, the directors making up the shortage, which is alleged to have been a hundred thousand dollars. A run was preventd today by the announcement that the directors have plenty of cash.