Farmers State Bank (Clearfield, IA)

Episode Information

Episode UID
9044905591278
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
904490559 hash
Start Date
June 18, 1906
Location
Clearfield, Iowa (40.801, -94.476)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fa42c7e2474f7283

Response Measures

None

Description

Bank closed by state examiner after apparent forgeries and cashier absconded; receiver appointed.

Events (2)

1. June 18, 1906 Suspension
Cause
Government Action
Cause Details
Closed by the state bank examiner due to books in bad shape and forged/unauthorized notes discovered.
Newspaper Excerpt
The Farmers State bank was closed today by the state bank examiner. The books are in bad shape and the actual condition may not be known for some time.
Source
newspapers
2. June 23, 1906 Receivership
Newspaper Excerpt
Sensational developments... The bank is in the hands of O. C. Hill, receiver.
Source
newspapers

Newspaper Articles (13)

Article from The Cairo Bulletin, June 19, 1906

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Article Text

CLOSED A BANK. Clear Field, la., June 18.-The Fa mers State bank was closed today by the state bank examiner. The books are in bad shape and the actual condiion may not be known for some time A receiver will be appointed. Note for large sum have been found which the alleged makers deny they ever signed.


Article from Omaha Daily Bee, June 19, 1906

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Article Text

Clearfield Bank Closed. CLEARFIELD, Ia.. June 18.-The Farmers State bank of Clearfield. Taylor county. was closed today by the state bank examiner. The books of the institution are in a bad shape and its actual condition will not be known for some time. A recelver will be appointed. Notes for large sums have been found which the alleged debtors deny that they ever signed.


Article from The Washington Times, June 20, 1906

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Article Text

The Farmers' State Bank at Clearfield, Iowa, was closed Monday by the state bank examiner. A receiver will be appointed.


Article from The Barre Daily Times, June 20, 1906

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Article Text

IOWA BANK CLOSED. Books in Bad Shape-Receiver to Be Appointed. Clearfield, Ia., June 20.-The Farmers State Bank of Clearfield, Taylor county, was closed Monday by the State Bank Examiner. The books of the institution ae said to be in bad shape and its actual condition will not be known for some time. A receiver will be appointed. Notes for large simms have been found which the alleged makers deny that they ever signed.


Article from The Globe-Republican, June 21, 1906

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Article Text

An Iowa Bank in Trouble. Clearfield, Ia., June 19.-The Farmers' State bank of Clearfield, Taylor county, was closed Monday by the state bank examiner. The books of the institution are in a bad shape and its actual condition will not be known for some time. A receiver will be appointed. Notes for large sums have been found which the alleged debtors deny that they ever signed.


Article from Iowa County Democrat, June 21, 1906

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Article Text

BANK IN BAD SHAPE. Notes for Large Sums Appear to be Forgeries. Clearfield, Iowa., June, 19,-The Farmer's state bank was closed yesterday by the state bank examiner. The books are in bad shapeand the actual condition will not be known for some time. A receiver will be appointed. Notes for large sums have been found, which the alleged makers deny they ever signed.


Article from Abilene Weekly Reflector, June 21, 1906

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Article Text

An Iowa Bank in Trouble. Clearfield, Ia., June 19.-The Farmers' State bank of Clearfield, Taylor county, was closed Monday by the state bank examiner. The books of the institution are in a bad shape and its actual condition will not be known for some time. A receiver will be appointed. Notes for large sums have been found which the alleged debtors deny that they ever signed.


Article from Ottumwa Tri-Weekly Courier, June 21, 1906

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Article Text

Iowa State Bank Closed. Clearfield, June 19.-The Farmers' State bank was closed Monday by the state bank examiner. The books are in bad shape and the actual condition may not be known for some time. A receiver will be appointed. Notes for large sums have been found which the alleged makers deny they ever signed.


Article from The Minneapolis Journal, June 24, 1906

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Article Text

BANK CASHIER GONE; CROOKED WORK FOUND Sensational Developments in the Officers of the Farmers' State Bank of Clearfield, Iowa. Marshalltown, Iowa, June 23.-Sensational developments have come to light in the case of the Farmers' State bank at Clearfield, which was recently. closed by the bank eaminer. The former cashier, George A. Ferrin, left for parts unknown and crooked work has been discovered. A farmer named John Hart borrowed $4,000 of the bank. He held a sale last aJnuary and turned the netes over to Ferrin. Ferrin sold the notes and never accounted for the proceeds. A draft sent from Tingley to Ferrin after the latter was out of the bank was never accounted for. Ferrin had the custody of $10,000 school money, but it is secured. His wife and three children will be destitute. The bank is in the hands of O. C. Hill, receiver.


Article from Twice-A-Week Plain Dealer, June 26, 1906

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Article Text

Iowa Bank Is Closed. Clearfield, Ia., June 20.-The Farmers' State bank of Clearfield, was closed Monday by the state bank examiner. The books of the insitution are in a bad shape and its actual condition will not be known for some time. A receiver will be appointed. Notes have been found which the alleged makers deny that they signed.


Article from The Evening Statesman, June 30, 1906

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Article Text

BANK CASHIER GONE. Sensational Developments in the Affairs of Farmers' State Bank. MARSHALLTOWN, Iowa, June 30. -Sensational developments have come to light in the case of the Farmer's State bank at Clearfield, which was recently closed by the bank examiner. The former cashier, George A. Ferrin, left for parts unknown and crooked work has been discovered. A farmer named John Hart borrowed $4000 of the bank. He held a sale last January and turned the notes over to Ferrin. Ferrin sold the notes and never accounted for the proceeds. A draft sent from Tingley to Ferrin after the latter was out of the bank was never accounted for. Ferrin had the custody of $10,000 school money, but it is secured. His wife and three children will be destitute. The bank is in the hands of O. C. Hill, receiver.


Article from The Carlisle Independent, January 3, 1907

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Article Text

BUSINESS FAILURES Jan. 14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. Feb. 8.-Boliver County Bank, Cleveland, 3,000. Miss.; liabilities, $110.000; assets, Ft. Mar. 1-Southern Bank & Trust Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, Ill.; liabilities, $100,000. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler. Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchester and Bardolph, Ill., closed for lack of ready cash.


Article from Morgan County Republican, January 3, 1907

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Article Text

BUSINESS FAILURES Jan. 14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. Feb. 8.-Boliver County Bank Cleveland, Miss.: liabilities, $110.000; assets, $130,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.; liabilities, $100,000. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Roserve Bond Co., St. Louis, appointed. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. v. Chandler at Macomb, Colchester and Bardolph, III., closed for lack of ready cash.