Article Text
Reveals Bank Shortage April the bank of Edwardsville by made today by president George ed run the institution.
Bank of Edwardsville (Edwardsville, IL)
Episode Information
- Episode UID
70040771564- Episode Type
- Run Only
- Bank Type
- state
- Bank ID
-
7004077routing - Routing Number
70-0407- Start Date
- April 15, 1930
- Location
- Edwardsville, Illinois (38.811, -89.953)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
88c28ce62a2ff214
Response Measures
None
Events (1)
1.
April 15, 1930
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Misappropriation/embezzlement of $143,000 by the bank's cashier Frank B. Sanders revealed publicly.
- Measures
- Directors raised a fund to make up the shortage; cashier reimbursed part of the loss; shipment of cash received from Federal Reserve Bank at St. Louis; bank paid depositors.
- Newspaper Excerpt
- the announcement was made ... to restore public confidence during a slight run on the bank this morning.
- Source
- newspapers
Newspaper Articles (11)
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Article Text
Defalcation Of Illinois Edwardsville, III., April W. Meyer, president Bank of Edwardsville, announced today that the bank's cashier, Frank Sanders, had misappropriated of bank funds, the money finance motion picture theaters other private ventures. Sanders has reimbursed the bank of the loss, Meyer said, the directors have raised to make the balance, under Sanders' promise raise the money them back in announcement cording to restore public confidence during slight on bank this morning. All of the officers present and representative of state auditor's fice hand corroborate Meyer's statements.
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FUND RAISED TO MAKE UP SHORTAGE By The Associated Press EDWARDSVILLE, III., April 15.George W. Meyer, president of the Bank of Edwardsville, announced today that the bank's cashier, Frank B. Sanders, had misappropriated $143,000 of banks funds, using the money to finance several motion picture theaters and other private business ventures. Sanders has reimbursed the bank for a part of the loss, Meyer said, and the directors have raised a fund to make up the balance, under Sanders promise to raise money to pay them back in full. The announcement was made, according to Meyer, to restore public confidence during a slight run on the bank this morning.
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USES BANK FUNDS FOR OWN USE Edwardsvil April 15. (A.P.) George W. Moyer, president of the bank of Edw dsville, announced to day that the bank's cashier, Frank B. Sanders, has misappropriated $143,000 of bank funds, using the money to finance several motion picture theatres and other private business ventures. Sanders has reimbursed the bank for part of the loss, Meyers said, and the directors have raised a fund to make up the balance under Sanders' promise to raise the money to pay them back in full. The announcement was made, according to Meyer, to restore public confidence during a slight run on the bank this morning. All of the officers were present and a representative of the state auditor's office was on hand to coroborate Meyer's statement.
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PERSISTENT RUN IS WEATHERED Officers Plan to Open Again Today and to Pay in Full All Depositors Who Wish to Make Withdrawals. Charges against Frank Sanders, 45, cashier of the Bank of Edwardsville, whose misappropriation caused persistent the bank, will brought the bank that restitution funds been made, George Meyer, president of the bank, said last night. know about in Attorney Bohm about the prosecution of Sanders. He declined to what action, it say he would State Auditor Nelson, who has jurisdiction over all state banks, said prosecution is up to the direcand the State's Attorney. "We made an examination of the bank some time found shortage." he said. was reported to bank officials and the money has been returned." The Attorney General Oscar Carlstrom has not quested to intervene the bank case. In Illinois the practice the State's Attorney to initiate any proceedings growing out of falcations. The Attorney General does appear such cases cept in instances where the ment of special prosecutor is quested. Weathered Run. The bank weathered the run yesterday and announced this morning to paying positors to their money. The bank an tional shipment cash yesterday afternoon from the Federal Reserve Bank at St. Louis, which with the restoration of the misappropriated funds, puts in position to meet all demands upon it, officials said. Sanders made no statement. care to say anything," reply to requests for his answer to the charge. He started his banking career minor capacity with the old First National Bank of Edwardsville, but became an employe of the Bank Edwardsville fifteen years when the two institutions merged the He lives with his wife and son
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Edwardsville Bank Will Not Charge Defaulting Head Officers of Institution Satisfied With Restitution Made by Cashier, President Says. Edwardsville, Ill., April 16.-(UP) Charges will not be preferred against Frank B Sanders. 45, cashier of the Bank of Edwardsville here. who is accused by bank offificials with misappropriation of $143,000. George M. Meyer. president of the bank said last night. According to Meyer full restitution has been made. A persistent run on the bank throughout the day yesterday. resulted from news of the misappropriation. The bank opened as usual this morning and officials announced that with the restored $143.000 and a shipment of cash received from the Federal Reserve Bank at St. Louis the institution is in a position to weather a continuance of the run today. Sanders' only answer to inquiries concerning the charge have been "I don't care to say anything.' Bohm Silent. The shortage was discovered when an audit of the bank's books was completed by state examiners State's Attorney Bohm. when questioned as to what action he Turn to Page 2, Column 2
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Cashier Will Make Good His Shortage Edwardsville, III., Apr. 15-(AP)George W. Meyer, President of the Bank of Edwardsville, announced today that the bank's cashier, Frank B. Sanders, had misappropriated $143,000 of bank funds, using the money to finance several motion pic ture theaters and other private busi ness Sanders has reimbursed the bank for a part of the loss, Meyer said and the directors have raised a funo to make up the balance, under San ders' promise to raise the money to pay them back in full. The announcement was made. according to Meyer. to restore publi confidence during a slight run on the bank this morning. All of the o: ficers were present and a representa tive of the State Auditor's office was on hand to corroborate Meyer's statements.
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Cashier Takes $143,000 To Back Movie Theatres EDWARDSVILLE, III., April 16. (AP)-George W. Meyer, president of the Bank of Edwardsville, announced today that the bank's cashier, Frank B., Sanders, had misappropriated $143,000 of the bank funds to finance several motion-picture theatres and other private business ventures. Sanders had reimbursed the bank for a part of the loss, Meyer said, fund to make up the balance under Sanders' promise to raise the money to pay them back in full. The announcement was made according to Meyer, to restore public confidence during a slight run on the bank this morning Mrs. F. K. Wylie, state officer Mrs. William Wrigney, representing local young people's missionary society: Mrs. E. L. Adams. delegate from Madisonville Woman's Missionary Society of the Methodist church, and others are attending the Louisville Annual Missionary Conference in Greenville this week Rim wrenches, any size, 35c a
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WILL PROBE $143,000 ILLINOIS BANK DEFICIT Grand Jury to Investigate Sanders Case at Edwardsville. Two officers of the Bank of Edwardsville yesterday disclosed that information against Frank B. Sanders, cashier and motion picture show owner, who diverted $143,000 from the financial institution for his be placed before the Madison County grand jury early this week. Heretofore, it was commonly believed Sanders would escape prosecution. Following the misappropriation, which a persistent run on the it was by President M. Meyer that partial restitution had been made; that the defaulting cashier in position to pay the remainder, and that, if accounts were squared, no charges would be pressed. Although no official announcehas forthcomin from directors as to the exact amount restored by Sanders, it has been ported the sum was $110,000, still leaving deficit of $33,600. at Montebello, Mo., twenty-two miles south of St. Louis. There will be baseball game between the "Stouts, captained by Rev. J. Le Clere. and the "Leans," led by Rev. R. E. Alex-
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RELEASE CASHIER AS MONEY IS RETURNED EDWARDSVILLE. Ill., Jan. 7.Frank B. Snaders, 45, former cashier of the Bank of Edwardsville, was free today under $25,000 bond after he was returned here from Richmond, Ind., yesterday to face embezzlement charges. Sanders was named in an indictment as embezzler of $143,000 of the funds of the bank while he was cashier. George M. Meyer, president of the bank. announced that the money had been returned and that the bank would not prosecute Sanders. Announcement of the shortage caused a run on the bank last April. He was rarested in the Indiana town while operating atheater.
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Madison County Banker Released on $25,000 Bond Frank B. Sanders Returned to Edwardsville to Face Charge of Embezzling $143,000. Edwardsville, Ill., Jan. 7-(UP)Frank B. Sanders, 45, former cashier of the Bank of Edwardsville, was free today under $25,000 bond after he was returned here from Richmond, Ind., yesterday to face embezzlement charges. Sanders was named in an indictment as embezzler of $143,000 of the funds of the bank while he was cashier. George M. Meyer, president of the bank, announced that the money had been returned and that the bank would not prosecute Sanders Announcement of the shortage caused a run on the bank last April. Authorities were unable to serve a warrant on Sanders after his indictment by the Grand Jury. It was reported that he had gone to Italy or Canada. When the shortage became known Sanders blamed his interest in a chain of motion picture theatres as responsible for his downfall. He was arrested in the Indiana town while operating a theatre.