The Unraveling of a Seattle Banker
When the cashier of the Snohomish National Bank was found to be a defaulter, the resulting financial ruin exposed deep cracks in the stability of local frontier finance.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
Snohomish, Oct. 13.—The Snohomish National Bank has been forced to close its doors after H. S. Hicks, cashier of the institution, was found to be a defaulter to the amount of $25,000. Investigation into the bank’s books revealed that Hicks had made false entries, consisting of omissions of amounts the bank owed to New York and Boston banks. The total loss to the institution will be nearly $30,000. The authorities say that the bank is effectively bankrupt. The tragedy has hit the community hard, as Hicks was considered a pillar of the local Episcopal church and a respected citizen. He is 40 years old and married, and the revelation of his double life has left his friends and associates in a state of profound shock.
“The revelation of his double life has left his friends and associates in a state of profound shock.”
Bank failures in the late 19th-century Pacific Northwest were often dramatic personal reckonings that laid bare the volatile nature of credit in a developing territory. Much like modern headlines about precarious regional financial health, this story highlights how the collapse of a 'trusted' local institution could instantly destabilize an entire community's savings and sense of security.
From readers
No comments yet. If you know something about this story — a correction, a family memory, a source — it belongs here.