Fidelity State Bank (Oro Fino, ID)

Episode Information

Episode UID
92013771456
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
9201377 routing
Routing Number
92-0137
Start Date
April 8, 1921
Location
Oro Fino, Idaho (46.482, -115.798)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6667c1a9e37d0c8f

Response Measures

None

Description

Spelling normalized to Orofino (articles use Orofino/Oro Fino variants).

Events (2)
1. April 8, 1921 Suspension
Cause
Correspondent
Cause Details
Closed as part of Waterman chain after First National Bank of Clarkston (correspondent) was closed; inability to realize on farm paper cited.
Newspaper Excerpt
By order of the board of directors this bank 'is ordered closed. ... The Clarkston bank was closed this morning by order of the bank examiner. George Waterman ... wired all the banks in the chain to close their doors at once.
Source
newspapers
2. April 29, 1921 Receivership
Newspaper Excerpt
Announcement is made by State Bank Commissioner J. G. Fralick that O. M. Holmberg of Orofino had been appointed receiver of the Fidelity State bank ... and will assume charge of its affairs at once.
Source
newspapers

Newspaper Articles (9)
1. April 8, 1921 Clearwater Republican Orofino, ID
Article from Clearwater Republican, April 8, 1921

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Article Text

Fidelity State Bank Closes LOCAL INSTITUTION CLOSES WITH CHAIN OF WATERMAN BANKS "By order of the board of directors this bank 'is ordered closed." These words were typewritten on a sheet of paper that was affixed to the door of the Fidelity State Band today at noon. The sign created some discussion, but not a panic when the news was purveyed on the streets during the afternoon. Indeed, there is no necd for excitement. The local institution was one of a chain known as "The Waterman Banks." The main banking house was located at Clarkston and had deposits aggregating more than a million. The Clarkston bank was closed this morning by order of the bank examiner. George Waterman, who is the nominal head of the Waterman system, wired all the banks in the chain to close their doors at once. This order was complied with. Cashier Schmid reports that there is no need of alarm. The closing of the doors is due wholly to the inability of the banks to realize on their securities. The deposits are backed by the loans, by the capital and surplus, together with accrued interest on securities. So far as is known, however, the banks will pay one hundred cents on the dollar when all acounts are balanced. Mr. Schmid and his assistants have built up a growing banking business and it is hoped and expected that the bank will soon again open for the resumption of business.

2. April 9, 1921 The Evening Herald Albuquerque, NM
Article from The Evening Herald, April 9, 1921

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Five Banks in Lewiston, Idaho Region Close LEWISTON Idaho, April 9.-Five banks in this region were closed yesterday. One of them. the First National of Clarkston. Washington was closed on orders of the comptroller of the currency. it was announced The other four. all state banks in Idaho and correspondents of the national institution. were closed on receipt of word that the Clarkston establishment had been closed They are: 1 he State Bank ot Kamiah. in Lewis county; the State Bank of Kooskia, Idaho county: the State Bank of Peck, Nez Perce county, and the F1delity State Bank at Orofino, Clearwater county Deposits of the National bank amount to more than $600.000; it is estimated the combined deposits of the four state banks are about $400.000 The national bank's resources at the last report were given as $918,931. Inability to realize on farm paper the reason assigned for each closing

3. April 22, 1921 The Producers News Plentywood, MT
Article from The Producers News, April 22, 1921

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5 Banks in Idaho, Washington are Closed in One Day Lewistown, Ida., April 8.-Five banks in this region were closed today. One of them, the First National of Clarkson, Wash., was closed on order of the comtroller of the currency, it was annoonced. The other four, all state banks in Idaho and correspondents of the national instittuion, were closed on receipt of the word that the Clarkson establishment had been closed. They are: The State Bank of Kamish, in Lewis county; the State Bank of Kooskia, Idaho county; the State Bank of Peck, Nez Perce county, and the Fidelity State at Oro Fino, Clearwater county. Deposits of the national bank amount to more than $600,000; it is estimated the combined deposits of the four state banks are about $400,000. The National Bank's resources at the last report were given as $918,931. Inability to realize on farm paper was the reason assigned for each closing.

4. April 22, 1921 Clearwater Republican Orofino, ID
Article from Clearwater Republican, April 22, 1921

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BANK DEPOSITORS HOLD MEETING 150 People Discuss Future Action and a Committee is Appointed In response to a call from J. G. Fralick, commissioner of finance for the state of Idaho, 150 people, all depositors in the suspended Fidelity State Bank, met last night at the Odd Fellows hall. John Oud was chairman of the meeting. Mr. Fralick gave an outline of the condition of the bank's affairs. He gave the assets and liabilities, stating what sums of money were due from notes and other paper. The assets were divided into three different classifications good, doubtful and bad. As these assets are the private concern of the depositors, they are not given for publication. It may be stated in general terms, however, that Mr. Fralick offered to the depositors no false hopes. He held his statements down to terra firma, underestimating rather than overestimating the visible assets. Victor E. Warner, of Jerome, is in charge of affairs under the direction of Mr. Fralick. Expert accountants will be on the ground next week to make a final accounting of the business. O. H. Holmberg has been selected as special deputy in charge. Confirmation of his appointment is expected next week. He will work in conjunction with the committees appointed by the depositors to liquidate the affairs of the bank. Two committees were appointed as follows: First, a general committee, composed of representatives from the different sections of the county, as

5. April 28, 1921 The Nezperce Herald Nezperce, ID
Article from The Nezperce Herald, April 28, 1921

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WAIVE PRELIMINAY IN BANK CASE. Waterman, Dempsey and Roth Held to District Court Under $2,500 Bonds. Charge Making False Reports. George H. Waterman, Ward Dempsey and Leslie Roth, president, cashier and assistant cashier of the State Bank of Kamiah, were arrested in Lewiston last Thursday by Sheriff Smith of this county on the charge of making false reports to the state bank commissioner on the condition of that bank, which was closed by the state banking department on April 8. The three men were brought to this city last Thursday evening and shortly after their arrival here appeared before Probate Judge Ellis, who bound them over to appear before him on May 3 for their preliminary hearing. The bond required of Waterman and Dempsey was $2,500 each and Roth's bond was fixed at $1,500. Local parties went on their bonds and the three bank officials returned to Lewiston on the Friday morning train. Information has just been received by Prosecuting Attorney Pennell through Attorney Miles S. Johnson, of Lewiston, counsel for the defendants, that they waive preliminary examination; which means that their case will be continued over to the next term of the Lewis county district court, in September. The bonds for their appearance will be continued in the same amounts. The Bank of Kamiah had deposits aggregating about $250,000 at the time it was closed, and information given out by the state bank commissioner indicates that only a small per cent of this will be available for return to the depositors. Of the other defunct Waterman banks, steps have been taken to reopen the Kooskia Bank under a local organization, and it is understood that institution will be ready for business in a few days. This bank seemed to be less involved than any of the other four in the chain. O. H. Holmberg has been appointed receiver of the Fidelity State Bank at Orofino, another of the chain, and it is given out that depositors of this bank will receive a little less than 50 per cent of their deposits,

6. April 29, 1921 The Rathdrum Tribune Rathdrum, ID
Article from The Rathdrum Tribune, April 29, 1921

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IDAHO NEWS PARAGRAPHS Recent Happenings In This State Given in Brief Items for Busy Readers. Rancher Shot and Killed. BOISE.-John G. Bleak, Wendell, Idaho, rancher, was shot and instantly killed by an unknown assailant at his home recently. Gooding county authorities have failed to find a clue to the assailant or motive. Holmberg Is Bank Receiver. OROFINO.-Announcement is made by State Bank Commissioner J. G. Fralick that O. M. Holmberg of Orofino had been appointed receiver of the Fidelity State bank, one of the five institutions of the Waterman group that suspended a short time ago, and will assume charge of its affairs at once.

7. April 29, 1921 Clearwater Republican Orofino, ID
Article from Clearwater Republican, April 29, 1921

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IDAHO NEWS PARAGRAPHS Recent Happenings in This State Given in Brief Items for Busy Readers. Rancher Shot and Killed. BOISE.- John G. Bleak, Wendell, Idaho, rancher. was shot and instantly killed by an unknown assailant at his home recently Gooding county authorities have failed to find a clue to the assailant or motive. Holmberg Is Bank Receiver. OROFINO.-Announcement is made by State Bank Commissioner J. G. Fralick that O. M. Holmberg of Orofino had been appointed receiver of the Fidelity State bank, one of the five institutions of the Waterman group that suspended a short time ago, and will assume charge of its affairs at once. May Get Big Timber Tract. BOISE.-Three hundred and fifty million feet of timber on the south fork of the Payette river may be purchased from the government by an eastern lumber concern. it was announced by forestry officials here re cently. The company also proposes to build huge sawmills at Horseshoe Bend. Ellard Goes To Canal Zone. MULLAN.- F. Ellard, manager of the Morning club, has resigned and gone to Washington, D. C.. The government has recently called for a large increase in the club and social facilities in the canal zone at Panama and Solon and Mr. Ellard has been chosen to assume entire direction of the work. Lumber Mill Resumes. COEUR D'ALENE.- The Blackwell resumed operations in the sawmill shut down nearly ter Lumber April being 21 company The and machinery all yards winter afand spring for repairs. has been overhauled and no more shutdowns are expected for many months. The planer has been running continule ously. The day shift only was started S and about 175 men are employed in the t mill and yards. The Coeur d'Alene e mill is running steadily with day and In night shifts in the planing mill. g Bankers Freed On Bonds. It NEZ PERCE.-Geor H. Water1, man, president; Ward Dempsey, cashle ier, and Leslie Roth, assistant cashier of the State Bank of Kamiah, arrested Jon the charge of making a false report Cto the state bank department, the d charge also involving allegation of n false entries, were later released on e bond for preliminary hearing May 3. Bond was fixed at $2500 for Waterman and Dempsey and $1500 for Roth. The Kamiah bank closed on April 8 when the correspondent First National Bank of Clarkston, Wash., closed. r Forestry Officials Meet. MISSOULA, Mont. - Representatives of lumber companies in Idaho 1and the forestry officials of that e state met in conference recently with u foresters in district No. 1, on cois operativ fire protection in the north e Idaho country. W. B. Humiston of 's the Potlatch Lumber company, Potin latch, Idaho, and C. L. Billings of the is Rutledge Timber company representa ed the lumber interests, while I. H. of Nash, land commissioner for the state rs of Idaho, and Ben E. Bush, Idaho ti state timber cruiser. represented the state of Idaho. st le Miners' Pay Reduced. $1. KELLOGG.-A wage reduction of 50 y cents a day to mine employes and 7' of cents a day to smelter employes was d announced recently by the Bunker Hill en and Sullivan Mining and Concentratne ing company. Similar announcement s wage 11 also made ed company their of edonia 50 miners cents Mining a was day and reductions by the the Sierra Cal- to 40 Nevada Consolidated Mining company, ry and later the Federal Mining and r Smelting company and the Hecla Minr's ing company posted the same notice. he The wage reductions announced will at affect about 2500 men. They are efso fective May 1. Miners will receive ve $4.25 and muckers $4 under the new se- schedule. he Plan Idaho Mining Program. ed UNIVERSITY OF IDAHO, Dean ed Francis A. Thomson, ex officio direo er tor of the state bureau of mines and geology and secretary of the board of control, and Dr. F. B. Laney, head of the geology department, is at Boise to to attend a meeting of the board. ed "At this meeting the program of th work for the coming two years will ut be discussed," said Dean Thomson. ile "There has been much demand for ss. work in various sections of the state, ow in fact more than can be accomto $30,000 allowed to the bureau. thThe state board of control is composed of Governor D. V. Davis, ex officio chairman; Stewart Campbell, state mine inspector; Jerome J. Day of Wallace, president of the Idaho en- Mining Association; Dean Thomson er and Dr. Laney. All members will be but present with the exception of Mr. ent Day. J. B. Eldridge of Boise, vice of is president of the Idaho Mining Association, will represent the mining association.

8. April 29, 1921 Clearwater Republican Orofino, ID
Article from Clearwater Republican, April 29, 1921

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OROFINO.-Announcement is made by State Bank Commissioner J. G. Fralick that O. M. Holmberg of Orofino had been appointed receiver of the Fidelity State bank, one of the five institutions of the Waterman group that suspended a short time ago, and will assume charge of its affairs at once,

9. May 5, 1921 The Filer Record Filer, ID
Article from The Filer Record, May 5, 1921

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STATE IN THE GEM has a monthly payroll States of more pubBoise $10,000 in the United lie than health service hospital Ada county plans Meridian. Final musical for festival the in completed. school 5. 6 and 7: have been candiMay Falls. Ralph Louis, ticket, At Idaho on the Citizens date for mayor George W. Eddington by 200 votes. won Progressive over Major candidate for mayor, Idaho recommendation of the to the On the president has sent Virgil W. senators. nomination of gensenate Samms of the Pocatello to be surveyor eral of Idaho. committee report on the spring Falls A recently held. in Idaho hand. festival balance of $92.08 on balance The showed county a fair fund has a on hand of $1,604.64. administration at Fort Hall lauds has The 200,000 acres of grazing price leased reservation at an average much of on-the 15 cents per acre. which is cheaper than last year. from Emmett state that cent 80 of Reports cent of the peach. so per of the per cherries and 25 per cent as prune the erop has been destroyed result of the recent frost. Erminie Manson. wife of Super- Idaho Mrs. E. C. Manson of the died intendent division of the Oregon Short Line, Death at a Pocatello hospital April 25. was due to heart trouble. the past three weeks 490 hogs near In been shipped by farmers of have Firth. The last shipment consisted of 247 hogs, making a total weight $3900. 42,730 pounds. bringing about Depositors in the Fidelity State instiat Orofino, one of the five that bank of the Waterman group 50 have tutions suspended. will receive autout more. cents on the dollar or possibly The governor has signed extradition of for the return to the state Red papers of Jake Taylor. now in theft Idaho Cal. and wanted for the of Bluff. an automobile in Nez Perce county. Jesse R. Budge, Republican attorney. the elected mayor of Pocatello in race elosest was and cleanest mayoralty received seen in the city. He 2038 ever votes. or 208 ahead of Pat Phelau, Democrat. The annual convention of school superintendents will be held this year The Moscow on May 2. 3 and 4. chief at purpose of the conference is the to acquaint the superintendents with new state educational laws. Road signs, designating distance from Nampa through Boise to Moun tain Home, through Caldwell to Parms and New Plymouth besides several the other points, will be put up by Idaho State Automobile association. Three thousand persons attended the ceremonies which marked the opening of the first unit of the Black Canyon thou Irrigation project at Notus. Six will sand acres lying north of the city be reclaimed by the opening of this project. The work of the Western Construct tion company, which has been given the $110,000 contract for the draining in of 10.440 acres of land included what is known as drainage district No. 1 of Canyon county, has been completed and accepted by the directors. The Taxpayers league, which elected mayor April 5. carried Tuesday's city its election in Boise. L. P. Kieldson and John M. Sharp were elected to the vacant council seats, the woman call didate, Miss Ivy M. Wilson, running third. and the old administration's can didate, W. H. Thompson, fourth assessed valuation of $20,988. no bonded capital and and 427.84 An a with combined indebtedness close current of of $314,288.23 at the for the year, is the business surplus condition to the of Shoshone county, according 1920 report of will be asked to Congress financial the auditor. set aside mountain park for the city of Boise for its of to be place a as a playground beauty residents preserved and for future generations. This park is locat ed about a half hour's auto ride from the center of the city, in the mountains north of the city. Golf enthusiasts of Nampa are considering the purchase of the 60-aere tract on the shores at Deer Flat reservoir. that has been offered as a site for the golf course. Arrangements will probably be made to clear off the grounds. " hich at present are covered with sage brush. Representatives from Twin Falls and the coun and men using power try Pocatello irrigation surrounding for have assured Mayor Eugene B. of Bolse that for the meeting of present pumping Sherman they mayors will and be reclamation project men to be held et the capital May 9. Charged with shipping in a carload of of Mer ritt of Salt Lake was at "wine pepsin," arrested George The J. Poes tello by federal officials. ear