gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
adbcd9c5d3ae6b75
Response Measures
None
Events (3)
1.January 2, 1897Run
Cause
Local Banks
Cause Details
Rapid withdrawals driven by contagion/excitement from failures of other banks (Chicago and elsewhere).
Measures
Stockholders arranged to give an approved bond to guarantee payment to depositors; clearing-house assistance conditioned on stockholder advances.
Newspaper Excerpt
The failure was due to rapid withdrawals of deposits during the past three weeks, caused by the excitement resulting from the bank failures in Chicago and elsewhere.
Source
newspapers
2.January 2, 1897Suspension
Cause
Local Banks
Cause Details
Bank failed to open due to heavy withdrawals precipitated by excitement from other bank failures; clearinghouse would not fully assist.
Newspaper Excerpt
The Omaha Savings Bank failed to open for business this morning.
Source
newspapers
3.January 6, 1897Reopening
Newspaper Excerpt
The Omaha Savings Bank ... has given an approved bond to pay dollar for dollar within four years, and its officers are again in charge to wind up the affairs of the bank.
Source
newspapers
Newspaper Articles (18)
1.January 2, 1897Rock Island ArgusRock Island, IL
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Failures of the Day. aha, Jan. 2.-The Omaha Sav1.60 bank failed to open this morning. The liabilities are $850,000, the assets $200,000 in excess of this. Cleveland, Jan. -Thirty judgments aggregating $85,000 were filed against the Dorner & Dutton Man facturing company and Derner Foundry company, among the largest car wheel manufacturers in the country. A receiver is applied for. Batavia, Ill., Jan. 2.-The Western Paper Bag company, one of von Norwick's plants, was placed in the hands of a receiver by the United States courts. Whitehall, Mich., Jan. 2. -The bank examiner took possession of the Whitehall savings bank today. Fargo, N. D., Jan. 2.-The Citizens' National bank failed this afternoon.
2.January 3, 1897Richmond DispatchRichmond, VA
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OMAHA SAVINGS BANK FAILS. Ex-Senator Manderson Its President. Heavy Withdrawal of Deposits. OMAHA, NEB., January 2.-The Omaha Savings Bank failed to open for business this morning. Ex-Senator Manderson is president of the bank, and J. E. Wilbur cashier. The bank was established in 1882. Six months ago its deposits were $1,500,000, but withdrawals have reduced them to less than $900,000. The face value of the assets almost reaches eleven hundred thousand dollars, and the capital and surplus are $185,000. The clearing-house banks declined to assist the bank to the extent required, except on condition that the stockholders OF the failed bank would themselves advance $100,000, and take that amount of real estate off the bank's hands. The failure was due to rapid withdrawals of deposits during the past three weeks, caused by the excitement resulting from the bank failures in Chicago and elsewhere. The stockholders are men of means, and will give the necessary bond to secure the appointment of a receiver of their own selection, and pay all depositors in instalments.
IT IS OMAHA'S TURN OMAHA SAVINGS BANK FAILS TO OPEN ITS DOORS. General Manderson, President of the Institution, Declares That it has Ample Resources to Pay all Depositors in FullBank at Fargo, N. D., Fails-Bun on the First National of Cripple Creek-The Van Nortwicks Let the Western Paper Bag Company go-Car Wheel Companies Fail-Other Smashes.
4.January 3, 1897The Morning NewsSavannah, GA
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AN OMAHA BANK FAILS. Heavy Withdrawals of Deposits Force a Suspension. Omaha, Neb., Jan. 2.-The Omaha Savings Bank failed to open for business this morning. Ex-Senator Manderson is president of the bank, and J. E. Wilbur, cashier. The bank was established in 1882. Six months ago its deposits were $1,500,000, but withdrawals have reduced them to less than $900,000. The face value of the assets almost reaches $1,100,000, and the capital and surplus are $185,000. Clearing house banks declined to assist the bank to the extent required, except on condition that the stockholders of the failed bank would themselves advance $100.000, and take that amount of real estate off the bank's hands. The failure was due to rapid withdrawals of deposits during the past three weeks, caused by the excitement resulting from the bank failures in Chicago and elsewhere. The stockholders are men of means, and will give the necessary bond to secure the anpointment of a receiver of their own selection and will pay all depositors in installments.
5.January 4, 1897The Portland Daily PressPortland, ME
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Omaha Savings Bank Closed Its Doors, Omaha, Neb., January 2.-The Omaha Savings bank failed to open for business today. Ex-Senator Manderson is president of the bank. Six months ago the deposits were one million and a half, but the withdrawals had decreased them to less than $900,000. The face value of the assets almost reaches $1,000,000 and the capital and surplus are $185,000. The clearing house banks declined to assist the bank to the extent required, except on'condition that the stockholders of the failed bank would advance $100,000 and take that amount of real estate off the bank's hands. The failure was due to the rapid withdrawals of depositors during the past three weeks caused by excitement resulting from bank failures in Chiongo and elsewhere. The stockholders are men of means and will give the necessary bond to secure the appointment of a receiver of their own selection and pay all depositors in instalments. Ex-Senator Manderson, the president of the bank said today: "Taking the real estate at cost and our real estate and other securities at face value, we have nearly $200,000 assets beyond our liabilities. While the bank is unable at this time to pay its depositors on demand, it is amply solvent and while It will take some time to realize on the assets, not a dollar will be lost to any creditor.
6.January 6, 1897Omaha Daily BeeOmaha, NE
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ENT DEPOSITORS WILL GET EVE Will Omaha Savings Bank's om . Again Be Placed in Ch LINCOLN, Neb., Jan. 5.-(Special Telegram.)-Cashier Wilbur of the Omaha Savings bank, which closed its doors a few days since, has been in Lincoln with Mr. Morris, the bank's attorney, since last evening. At a meeting of the State Banking board this evening they presented for approval a bond guaranteeing the settlement in full of all claims within four years. The bond was signed by men of high financial standing, who qualified for more than $2,000,000. The State Banking board approved the bond and issued a formal order to Bank Examiner Dodder to turn the institution over to its officers. This order will be presented to the examiner now in charge tomorrow, and the regular bank officials will again assume the control of the affairs of the institution. Cashier Wilbur said tonight that the action of the State Banking board had made it absolutely certain that every dollar of the bank's indebtedness would be paid, and that neither depositons nor stockholders would sustain the loss of a cent. The heavy expense and enforced liquidation of a receivership would be avoided, and the valuable real estate holdings which the bank had been compelled by force of circumstances to assume, could be disposed of without sacrifice. Cashier Wilbur and Attorney Morris return to Omaha in the morning.
7.January 7, 1897The Norfolk VirginianNorfolk, VA
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will Pay Dollar for Dollar. Omaha, Neb., Jan. 6.-The Omaha Savings Bank, which closed its doors last Saturday owing depositors $150.000. after paying out $600,000 in six months previously, has given an approved bond to pay dollar for dollar within four years and its officers are again in charge to wind up the affairs of the bank. This course has given renewed confidence in banking circles. and the slight runs on one or two Institutions that followed the closing of the savings bank have ceased.
8.January 7, 1897The Morning NewsSavannah, GA
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OMAHA BANK RESUMES. It Gives Bond to Pay Its Depositors Dollar for Dollar. Omaha, Neb., Jan. 6.-The Omaha Savings Bank, which closed its doors last Saturday, owing depositors $105,000, after paying out $600,000 in six months previously, has given an approved bond to pay dollar for dollar within four years, and its off) ers are again in charge to wind up the affairs of the bank. This course has given renewed confidence in banking circles, and the slight runs on one or two institutions that followed the closing of the savings bank have ceased.
9.January 7, 1897Birmingham State HeraldBirmingham, AL
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Article Text
Omaha, Neb., Jan. 6.-The Omaha Savings bank, which closed its doors last Saturday owing depositors $150,000 after paying out $600,000 in six months previously, has given an approved bond to pay dollar for dollar within four years, and its officers are again charged to wind up the affairs of the bank. This course has given renewed confidence in banking circles, and the slight run on one or two institutions that followed the closing of the savings bank have ceased.
10.January 7, 1897Indian ChieftainVinita, OK
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An Omaha Bank Suspends. OMAHA, Neb., Jan. 4.-The Omaha Savings bank failed to open for business Saturday. Ex-Senator Munderson is president of the bank and J. E. Wilbur is cashier. The bank was established in 1882. Six months ago its deposits were $1,500,000, but withdrawals have reduced them to $900,000. The face value of the assets almost reaches $1,100,000 and the capital and surplus are $185,000. The stockholders are men of means and will give the necessary bond to secure the ap. pointment of a receiver of their own selection and pay all depositors in installments.
An Omaha Bank Suspends. Omaha, Neb., Jan. 4. -The Omaha Savings bank failed to open for business Saturday. Ex-Senator Manlerson is president of the bank and J. E. Wilbur is cashier. The bank was established in 1882. Six months ago its deposits were $1,500,000, but withdrawals have reduced them to $900,000. The face value of the assets almost reaches $1,100,000 and the capital and surplus are $185,000. The stockholders are men of means and will give the necessary bond to secure the appointment of a receiver of their own selection and pay all depositors in installments.
12.January 7, 1897Richmond DispatchRichmond, VA
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OMAHA SAVINGS BANK. It Gives Approved Bond to Pay Dollar for Dollar. OMAHA, NEB., January 6.-The Omaha Savings Bank, which closed its doors last Saturday, owing depositors $150,000, after paying out $600,000 in six months previously, has given an approved bond to pay dollar for dollar within four years, and its officers are again in charge, to wind up the affairs of the bank. This course has given renewed confidence in banking circles, and the slight runs on one or two institutions that followed the closing of the Savings Bank have ceased.
13.January 8, 1897Essex County HeraldIsland Pond, Guildhall, VT
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Savings Bank Suspends. OMAHA, Neb., Jan. 4-The Omaha Savings Bank failed to open for business. Former Senator Manderson is president of the bank, and J. E. Wilbur cashier. The bank was established in 1882. Its deposits were $1,500,000 six months ago, but withdrawals have reduced them to less than $900,000. The face value of assets almost reached $1,100,000. and capital and surplus are $185,000.
14.January 9, 1897The Cape Girardeau DemocratCape Girardeau, MO
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BANK CLOSED. The Omaha Savings Bank Succumbs to Heavy Withdrawals. OMAHA, Neb., Jan. 3.-The Omaha savings bank failed to open for business. Ex-Senator Manderson is president of the bank and J. E. Wilbur is cashier. The bank was established in 1882. Six months ago its deposits were $1,500,000, but withdrawals have reduced them to less than $900,000. The face value of assets almost reaches $1,100,000 and the capital and surplus are $185,000. The clearinghouse banks declined to assist the bank to the extent required except on condition that the stockholders of the failed bank would themselves advance $100,000 and take that amount of real estate off the bank's hands. The failure was due to the rapid withdrawals of deposits during the past three weeks, caused by excitement resulting from bank failures in Chicago and elsewhere. The stockholders are men of means and will give the necessary bond to secure the appointment of a receiver of their own selection, and pay all depositors in installments.
15.January 9, 1897The UniversalistChicago, Cincinnati, IL
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THE First city bank of Nora Springs, Iowa, has failed. Assignment was made to Byron Gammidg. The stockholders of the Omaha savings bank, which closed Saturday, have been in conference all day arranging plans to give a bond and wind up the institution at once. The affairs are found to be in excellent shape. No run of any kind has been made on other Omaha banks.
Receiver for an Insolvent Bank Wanted. Omaha, Neb., Oct. 9.-Simeon Bloom, a depositor in the Omaha savings bank, which failed five years. ago, yesterday asked the district court to appoint a receiver for the bank. Bloom alleges that the officers of the bank gave bond for the payment of depositors in full, but that they have failed to do so, and, in consideration of $100, have transferred $300,000 worth of real estate to a local firm. He asks that the court compel the officers of the bank to make a showing of the actual value of this property and to make an accounting of the defunct bank's assets. Chinaman Found with His Head Severed. Cléveland, O., Oct. 9.-Sing Ki, a Chinaman restaurant keeper, was found dead in his room last night with his head almost severed from his body. He was last seen alive Monday night. when he was quarreling with a waitress in his restaurant. She proved an alibi, however, and was released after a brief imprisonment. Chow Ki, a brother of the dead man, says his brother was a member of the highbinders' society.
17.October 12, 1901The Van Buren PressVan Buren, AR
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A Receiver Asked For. Omaha, Neb., Oct. 9.-Simon Bloom, a depositor in the Omaha savings bank, which failed five years ago, yes terday asked the district court to appoint a receiver for the bank. Bloom alleges that the officers of the bank gave bond for the payment of depositors in full, but that they have failed to do so, and, in consideration of one dollar, have transferrèd $300,000 worth of real estate to a local firm. He asks that the court compel the officers of the bank to make a showing of the actual value of this property.
18.December 9, 1901The Butte Inter MountainButte, MT
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RUN ON A BANK. Omaba Savings Bank Checks a Run by Prompt Payment. (By Associated Press.) Omaha, Dec. 9.-There was a considerble number of depositors of the Society Savings.bank present to withdraw their oney when the doors of that institution pened this morning. Vice president
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
