All Night & Day Bank (Los Angeles, CA)

Episode Information

Episode UID
16006971325
Episode Type
Run β†’ Suspension β†’ Unsure
Bank Type
state
Bank ID
1600697 routing
Routing Number
16-0069
Start Date
May 2, 1910
Location
Los Angeles, California (34.052, -118.244)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f8b7ff6e555b549b

Response Measures

None

Description

Run in May 1910 followed by state superintendent closure in Oct 1910; later litigation/receiver action leaves ultimate permanent closure unclear.

Events (3)

1. May 2, 1910 Run
Cause
Rumor Or Misinformation
Cause Details
Large depositor crowd and withdrawals driven by panic/nervousness; solvency later affirmed by state bank commissioner reversing sentiment.
Measures
Bank officials issued statements and received redeposits after reassurance from state bank commissioner; maintained operations during and after the run.
Newspaper Excerpt
A run on the Los Angeles All Night and Day bank started shortly after noon today. Hundreds of depositors jammed the building and filled the streets.
Source
newspapers
2. October 14, 1910 Suspension
Cause
Government Action
Cause Details
State superintendent of banks took charge and closed the bank amid litigation and alleged impairment of capital stock; closure declared for protection of depositors until management adjusted.
Newspaper Excerpt
The All Night and Day bank was closed at 10 o'clock last night by order of Alden Anderson, superintendent of banks of California.
Source
newspapers
3. November 18, 1910 Other
Newspaper Excerpt
RECEIVER OF BANK IS DISCHARGED BY COURT ... it was ordered only to return to the bank the certificate for the 1155 shares of capital stock ... indicating a temporary cessation of hostilities in the litigation over control of the institution.
Source
newspapers

Newspaper Articles (18)

Article from The Tacoma Times, May 2, 1910

Click image to open full size in new tab

Article Text

DEPOSIT ORS START RUN ON BANK (By United Press Leased Wire.) LOS ANGELES, Cal., May 2.β€” A run on the Los Angeles All Night and Day bank started shortly after noon today. Hundreds of depositors jammed the building and filled the streets. A long line which was formed grew constantly. The All Night and Day bank is the only institution of its kind in Southern California. It was organized a year ago under the state banking laws. It recently was refused membership in the Los Angeles clearing house.


Article from Los Angeles Herald, May 3, 1910

Click image to open full size in new tab

Article Text

HE All Night and Day Bank has 24,000 accounts. Less than one-fortleth of T its patronage was represented in the run yesterday, according to the bank's officials. One man dropped dead in the bank yesterday afternoon after depositing $300 in the institution to prove his confidence in it. More deposits were being received at 3 (Continued on Page Three)


Article from Tonopah Daily Bonanza, May 4, 1910

Click image to open full size in new tab

Article Text

RUN HAS STOPPED ON, LOS ANGELES BANK By Associated . Press. LOS ANGELES, May 3.-The two days run on the All Night and Day bank ended tonight. According to a statement issued by the president tonight the bank lacks less than one hundred thousand of the $1,250,000. of the deposits when the run started.


Article from The Julesburg Grit-Advocate, May 5, 1910

Click image to open full size in new tab

Article Text

Day and Night Run on Bank. Los Angeles.-One of the most unique runs in the history of finance started on the Los Angeles All Night and Day Bank at 8 o'clock Monday morning and at midnight there was still a line of several hundred in waiting.


Article from Gilpin Observer, May 5, 1910

Click image to open full size in new tab

Article Text

Day and Night Run on Bank. Los Angeles.-One of the most unique runs in the history of finance started on the Los Angeles All Night and Day Bank at 8 o'clock Monday morning and at midnight there was still a line of several hundred in waiting.


Article from The Daily Ardmoreite, May 5, 1910

Click image to open full size in new tab

Article Text

Run on Night Bank. Los Angeles, Cal., May 5.-Maintaining their weary vigil on chairs or boxes, a long line of depositors camped throughout the night on the street before the All Night and Day bank, on which a "run" was started yesterday. A section of the thoroughfare had been roped off and said: wiches were provided by the bank management. President Skinner, of the bank, as. serted today that the funds of the institution had been depleted only a few thousand dollars being left because of the "run." Assurance of


Article from The Springfield Herald, May 6, 1910

Click image to open full size in new tab

Article Text

Day and Night Run on Bank. Los Angeles.-One of the most unique runs in the history of finance started on the Los Angeles All Night and Day Bank at 8 o'clock Monday morning and at midnight there was still a line of several hundred in waiting.


Article from The Elbert County Tribune, May 6, 1910

Click image to open full size in new tab

Article Text

Day and Night Run on Bank. Los Angeles.-One of the most unique runs in the history of finance started on the Los Angeles All Night and Day Bank at 8 o'clock Monday morning and at midnight there was still a line of several hundred in waiting. itea


Article from The Holly Chieftain, May 6, 1910

Click image to open full size in new tab

Article Text

Day and Night Run on Bank. Los Angeles.-One of the most unique runs in the history of finance started on the Los Angeles All Night and Day Bank at 8 o'clock Monday morning and at midnight there was still a line of several hundred in waiting.


Article from The Parma Herald, May 12, 1910

Click image to open full size in new tab

Article Text

Run On Bank Reaches End. Los Angeles, May 4.-The two-day run on the All Night and Day bank ended tonight. The line of hundreds of men and women depositors who had stood continuously for 36 hours melted almost as suddenly as it had formed yesterday morning. Sentiment reversed and, instead of flowing out, the stream of gold began coming in. Before midnight many thousands, withdrawn but a few hours before, had been redeposited. The announcement of state bank commissioner, that the institution was solvent reassured patrons.


Article from Los Angeles Herald, October 14, 1910

Click image to open full size in new tab

Article Text

MAY CHANGE DIRECTORATE ALL NIGHT: AND DAY BANK Report Represents Institution Is Operated at Loss A reorganization of the directorate of the All Night and Day bank is contemplated in a petition filed in Judge Conrey's court yesterday by the Title Insurance and Trust company, receiver for 1155 shares of the bank's stock. This report represents that the bank is being operated at a daily loss of $100, or $3000 a month; that its affairs are improperly managed and conducted, and its capital seriously impaired under the present management. Permission was granted for the receiver to vote the 1155 shares of stock at a stockholders' meeting scheduled for today, to secure a new management and a new board of directors. The matter is an outgrowth of the recent suit of Hugh Blue, trustee, against the All Night and Day bank, in which Blue obtained an order for the transfer of the stock certificates from the names of former stockholders to his own. Subsequently the receiver was appointed to hold the stock pending the outcome of an appeal to the supreme court. The receiver alleges that W. J. Conner, secretary of the bank directors, refused to call a meeting, and therefore the receiver caused one to be called, set for today. The purpose of the meeting will be to remove the present directors, including Newton J. Skinner, president, and to put in a new board. The stock held by the receiver represents a majority of the issued stock of the concern.


Article from Los Angeles Herald, October 14, 1910

Click image to open full size in new tab

Article Text

MAY CHANGE DIRECTORATE ALL NIGHT: AND DAY BANK Report Represents Institution Is Operated at Loss A reorganization of the directorate of the All Night and Day bank is contemplated in a petition filed in Judge Conrey's court yesterday by the Title Insurance and Trust company, receiver for 1155 shares of the bank's stock. This report represents that the bank is being operated at a daily loss of $100, or $3000 a month; that its affairs are improperly managed and conducted, and its capital seriously impaired under the present management. Permission was granted for the receiver to vote the 1155 shares of stock at a stockholders' meeting scheduled for today, to secure a new management and a new board of directors. The matter is an outgrowth of the recent suit of Hugh Blue, trustee, against the All Night and Day bank, in which Blue obtained an order for the transfer of the stock certificates from the names of former stockholders to his own. Subsequently the receiver was appointed to hold the stock pending the outcome of an appeal to the supreme court. The receiver alleges that W. J. Conner, secretary of the bank directors, refused to call a meeting, and therefore the receiver caused one to be called, set for today. The purpose of the meeting will be to remove the present directors, including Newton J. Skinner, president, and to put in a new board. The stock held by the receiver represents a majority of the issued stock of the concern.


Article from Deseret Evening News, October 15, 1910

Click image to open full size in new tab

Article Text

TAKES CHARGE OF L. A. ALL NIGHT AND DAY BANK I Los Angeles, Cal., Oct. 15.-Alden Anderson, state superintendent of banks, took charge last night of the All Night and Day bank. His action was the climax of litigation extending over a period of several months and centering in an effort to oust President Newton J. Skinner and the other officers of the Institution. The bank is solvent, according to the superintendent's announcement and the depositors will not lose anything. If the differences are not settled the bank's holdings will be liquidated. The litigation followed a run several months ago, Skinner and M. J. Conner, the cashier, deposited a majority of the bank stock to secure loans aggregating $90,000 obtained from L. C. Brand, president of the Title Guarantee & Trust company and others. The loans were called and Skinner and Conner did not satisfy the claims. Upon the authority of the superior court, a stockholders' meeting was called yesterday at which Brand was elected president. Skinner refused to surrender control and Mr. Anderson thereupon assumed charge. The bank is capitalized at $200,000.


Article from Los Angeles Herald, October 15, 1910

Click image to open full size in new tab

Article Text

NIGHT AND DAY BANK IS CLOSED State Superintendent Takes Charge-Declares All Deposits Absolutely Safe SKINNER HAS GUN HANDY Deposed President Was Prepared to Hold Fort with Arms and Ammunition The All Night and Day bank was closed at 10 o'clock last night by order of Alden Anderson, superintendent of banks of California. Mr. Anderson, who arrived in Los Angeles yesterday, said last night that the bank was solvent and there was no danger of the depositors losing their money. The bank was closed, he said, for the protection of the depositors and would probably remain closed for several days until the adjustment of the management of the bank. The controversy between Newton J. Skinner, president of the bank, and a newly elected board of directors, who, it is alleged, would oust him from the presidency, is given as the direct cause of the closing of the bank. It was stated last night that Skinner and his associates had taken means to hold their quarters by stocking the bank with arms and ammuniation. Skinner worked at his desk last night with a revolver within easy reach. Several men were employed by him, it is said, to guard the building and keep out what he termed "the undesirable element.' Alden Anderson, in a statement to The Herald last night, said: 'Thave kept in close touch with the affairs of the bank long before the run on it and I am in a position to say that it is perfectly solvent and that there is not the slightest danger of any one losing any money they have deposited there. Its total deposits on hand are $945,000. I have locked it in the safe. There is not the slightest suspicion of any irregularity in the financial affairs of the bank. It loans have been conservative. MUST BE ONE HEAD "I merely closed the bank because there were two sets of officials giving orders and it was to the interest of the depositors and in line with my duty to close the institution until matters had been adjusted. The bank probably will remain closed two or three days, I can not say positively. There must be one head to the bank when it opens." Mr. Skinner, in a statement to The Herald last night, said he believed an injustice had been done himself, the bank and the depositors by Mr. Anderson's action. "It was hasty and without notice to ourselves and one thing I can not understand is why Mr. Anderson spent the afternoon with the new board of directors, who were elected at a rump convention, and who desire to oust me from the management of the bank, and why these same men were appointed by Mr. Anderson tonight to guard the doors of the bank and assume temporary charge of the building," said Mr. Skinner. 'According to article 134 of the banking laws there is provision to the effect that if the superintendent of banks believes a bank has done anything not in accord with good banking he shall serve written notice on that bank to show cause before him at a certain time and place to be fixed by him why such an act was done and why the law has not been obeyed. We have had nΓ³ such notice, but were jumped on like a shot out of a gun. "I will be in communication with my counsel, although I am an attorney myself tomorrow, and as soon as papers can be drawn up will file application to force him to open our doors.' The closing of the doors of the bank last night attracted a crowd, and depositors were soon clamoring for admittance. A strong guard had been placed in the building and around the outside, however, both by Anderson and Skinner. It was rumored earlier in the eventhat the newly elected board of directors intended to enter the place by force and assume charge of affairs, and this is what caused Skinner to place armed men about the building.


Article from The Evening Standard, October 15, 1910

Click image to open full size in new tab

Article Text

LOS ANGELES BANK IS CLOSED BY LITIGATION Los Angeles, Cal., Oct. 15.-Alden Anderson. state superintendent of banks, took charge last night of the All-Night & Day bank. His action was the climax of litigation extending over a period of several months and centering in an effort to oust President Newton J. Skinner and the other officers of the institution. The bank is solvent, occording to the superintendent's announcement, and the depositors will not lose anything If the differences are not settled, the bank's holdings will be liquldated The litigation followed a run sev. eral months ago. Shinner and M. J. Conner, the cashier, deposited a majority of the bank stock to secure loans aggregating $90,000 obtained from L. C. Brand, president of the Title Guarantee & Trust company and others. The loans were called and Skinner and Conner did not satisfy the claims. Upon the authority of the superior court a stockholders' meeting was called yesterday at which Brand was elected president. Skinner refused to surrender control and Mr. Anderson thereupon as sumer charge. The bank is capitalized at $200,000.


Article from Los Angeles Herald, October 16, 1910

Click image to open full size in new tab

Article Text

STATES REASONS FOR CLOSING BANK Anderson Says Capital Stock of Night and Day Institution Impaired ASSERTS DUE WARNING GIVEN Business May Be Closed Permanently-Assets Are Ample to Pay Depositors in Full An impairment in the capital stock of the All Night and Day bank, discovered eight months ago, and the failure of President Skinner and Cashier Connor to comply with his orders by putting up enough money to remove the impairment, after repeated warnings, was given by Alden Anderson, state superintendent of banks, yesterday, as his reason for closing the doors, of the institution Friday, night. In reply to Skinner's accusation that he had closed the bank without warning, Mr. Anderson said yesterday: "I did not act hastliy in the matter. I carefully considered every phase of it before I acted. Eight months ago, when Skinner was in the east, I. discovered an impairment in the capital stock. I notified Corron, but save for shifting accounts and book entries there was nothing done in compliance with my orders. I warned them four days ago that they must put up the money or I would close the bank. "I have been in constant touch with the affairs of the bank and have had a man watching things long before the run on the bank some months ago. I was familiar with every phase of the situation. After I had warned them that they must remove the impairment in the capital stock they knew the fate that was awaiting them if they did not make good the shortage. TAKING NO CHANCES "I did not and do not want to tie up the depositors' money, but I will not take the chance of them losing it. "I have closed fourteen banks and I cannot afford to make a mistake anywhere. "I will be forced to close the institution permanently if the old officials maintain control, for they have been unable to comply with my orders. "If the court rules in favor of the officers elected at the meeting Friday, and they put up the money necessary to comply with my orders, then I may allow the bank to reopen." Skinner and Connor, deposed president and cashier of the institution, were not in the bank yesterday afternoon. Connor is said to have been in a hysterical condition Friday night, following the closing of the bank, and to have been confined to his home Saturday. Little groups of disconsolate depositors gathered in front of the bank building at Sixth and Spring streets yesterday and stared vacantly at a notice plastered on the doors, reading: "Closed by the state superintendent of banks until further notice." Mr. Anderson said yesterday that it is probable the bank will be opened in several days. He added that despite the impairment of capital which he discovered, depositors will lose nothingthat the bank's assets are ample to pay them in full. 1++


Article from Los Angeles Herald, November 18, 1910

Click image to open full size in new tab

Article Text

RECEIVER OF BANK IS DISCHARGED BY COURT All Night and Day Institution Figures in Three Legal Proceedings Court porceedings involving the All Night and Day bank yesterday were the discharge of the receiver of the institution, the dismissal of a notice of appeal in the matter and the filing of a suit for damages against the concern. Judge Conrey discharged the, Title Insurance and Trust company as receiver in the action of Hugh Blue, trustee, against the bank, asking no accounting of its management. It was ordered only to return to the bank the certificate for the 1155 shares of capital stock in the concern, which has been the bone of contention between two financial factions fighting for the control of the institution, and which left the possession of the original directors of the bank when it was pledged to secure a loan of about $120,000. It was because of the loan, which never was returned, and the consequent sale of the stock, that the suit of Hugh Blue, who as trustee bought the stock, against the old directors of the bank, headed by Newton J. Skinner, president, was begun. Then followed various other actions in which the Skinner faction was opposed to the new set of officers, headed by L. C. Brand. The dismissal of the notice of appeal in the case of Blue against the bank, in which he sought to have the old officials credit him on their books with the 1155 shares of stock; the discharge of the receiver; the return of the stock, as Blue desired, to the bank, and the recent decision of Judge Hervey to the effect that the new directors are in rightful possession of the institution, indicate that there is at least a temporary cessation of hostilities. The suit for damages against the institution filed yesterday was that of E. Milton White, he asking $1000 because the bank is alleged not to have cashed a check he drew upon it. White, who is a mining engineer and the superintendent," general manager and, acting treasurer of the Warrior Copper company, the property of which is situated at Black Warrior, Ariz., claims he had more than enough funds in the All Night and Day bank September 11, 1910, when he drew a check for $40 in favor of Mrs. M. L. White and caused it to be delivered to her at her residence in Philadelphia. She indorsed it and gave it into the Centennial bank of Philadelphia for collection. That institution forwarded it to the Crocker National bank in San Francisco. That concern sent it to the First National bank of Los Angeles. A representative of the last named institution called at the All Night and Day bank to have it cashed, only, it is alleged, to be refused on the ground that White did not have sufficient funds in the bank to cover the check. The check was returned from the All Night and Day bank to the First National bank; from there to the Crocker National bank. and from there to the Centennial National bank. That institution gave it a kick in the direction of Mrs. White, and she gave it another buffet by returning it to White, the drawer. White declares he has been dishonored because of the coldness with which his check has been treated, and that he has been to great expense to right matters. He wants $1000.


Article from Los Angeles Herald, November 18, 1910

Click image to open full size in new tab

Article Text

FOMA For Los Angeles and vicinity: Cloudy Friday; light north wind, changing to south. Maximum temperature yesterday, 65 degrees; minimum temperature, 51 degrees. LOS ANGELES Former Senator W. A. Clark notifies Y. W. C. A. of purchase of site on which PAGE 1 girls' home will be built. General Passenger Agent Peck of Salt Lake route predicts orange crop will be record PAGE 4 breaker. Tax Collector Taggart expects collections of more than $2,500,000 within week. PAGE 4 Italian thinks he is poisoned when given piece of pumpkin by pretty girl; analysis of food discloses man's mistake. PAGE 1 District Federation of Women's Clubs discusses Los Angeles' milk supply. PAGE 5 "Bundle of sticks" of Odd Fellows will arrive in Los Angeles tomorrow evening PAGE 8 from Santa Paula. Education discussed by prominent men at dinner given for Y. M. C. A. officer. PAGE 8 Mayor and fire commissioners to strongly oppose ordinance allowing vertical fire PAGE 8 escapes on office buildings. Dr. Todd wins suit for recovery of $60,000 worth of property from his wife. PAGE 8 Three aunts of Miss Mary Green, who left estate of $150,000, have suit over distribΓΊtion dismissed. PAGE 8 First meeting of the newly appointed city and county consolidation commission is PAGE 9 to be held Saturday. Meyer Lissner, chairman of the Republican state central committee, returns to Los Angeles and discusses recent campaign. PAGE 9 Court rules that "Go to hell" is not proPAGE 9 fanity. Mrs. Carrie Hollman of Gardena informs police husband disappeared with $1300 of her money. PAGE 9 Conference of city officials fails to settle controversy over sale of aqueduct bonds. PAGE 9 Fire causes damage of $5000 to $10,000 in PAGE 11 Broadway store. Receiver of All Night and Day bank discharged by court. PAGE 11 Master of bark who permitted escape of aliens being deported is held for trial. PAGE 11 Crowd cries "Lynch him!" while pursuing Japanese. PAGE 16 Roy Knabenshue says Ralph Johnstone, dead aviator. exceeded orders. PAGE. 3 Romance and mystery enter into the search made in this ctly for "Billie" Dunn. PAGE 6 Aged father of Dr. Crippen, convicted of slaying his wife in London, facing PAGE 16 death from pneumonia.