Tuesday, May 2, 2017

On This Date in Minnesota History: May 2

May 2, 1912 - The Bank of Commerce in Winnebago, Minn., was closed today by Kelsey Chase, state superintendent of banks, who is examining the books to determine whether there is a shortage.

The cashier of the bank, H. A. Parker, left Winnebago last Friday afternoon and has not been heard from since. Before leaving he cashed a draft at another bank in the village, receiving $2,000 in cash. He said at the time that he was going to the Twin Cities on business and expected to return Saturday. The bank officials have learned that he did not.

The bank has deposits totaling $251,000, and is capitalized at $200,000. The depositors in general feel that any possible shortage will be made up. No warrant has been issued for Parker, who is 44 years old and has been connected with the Bank of Commerce for 12 years. He left a wife and three children in Winnebago.

The Minneapolis Morning Tribune; “Winnebago Is Closed Institution’s Cashier Gone. Kelsey Chase Examining Books to Determine Whether There Is Shortage.” May 3, 1912; p. 8.”



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