First National Bank (Sioux City, IA)

View Charter #1757 on SPMC View balance sheet

Episode Information

Episode UID
175701163
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
17570 national
Charter Number
1757
Start Date
November 19, 1896
Location
Sioux City, Iowa (42.500, -96.400)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9f686e113e13b00c

Response Measures

Full suspension, Books examined

Other: Bank was placed temporarily in the hands of a receiver (receiver/control by bank examiner).

Receivership Details

Date receivership started
1897-01-07
Date receivership terminated
1897-03-16

Description

Contemporary reports describe a suspension Nov 19, 1896 and reopening Mar 17, 1897; government-record receivership date (1897-01-07) appears in archival metadata and conflicts with reopening notices.

Events (8)
1. December 28, 1870 Chartered
Source
historical_nic
2. November 19, 1896 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors withdrew funds following circulating rumors about the bank, exhausting available funds.
Measures
Bank examiner placed in charge; comptroller notified; temporary receiver later appointed.
Newspaper Excerpt
The First National bank, organized twenty-six years ago ... closed at 10 o'clock owing to a run which had exhausted the available funds. ... Recently the depositors have heard rumors which caused the run.
Source
newspapers
3. November 19, 1896 Suspension
Cause
Rumor Or Misinformation
Cause Details
Suspension followed immediate heavy withdrawals triggered by rumors about the bank's condition.
Newspaper Excerpt
The First National bank has closed its doors. The failure is due to heavy withdrawals. ... The comptroller of currency has received notice of the failure of the First National bank, Sioux City, Iowa. ... Bank Examiner Branding has been placed in charge.
Source
newspapers
4. January 7, 1897 Receivership
Source
historical_nic
5. January 7, 1897 Receivership
Source
newspapers
6. March 16, 1897 Restored To Solvency
Source
historical_nic
7. March 17, 1897 Reopening
Newspaper Excerpt
The First National bank of Sioux City, Ia., which suspended payment Nov. 19, 1896, and was placed temporarily in the hands of a receiver, has been permitted to reopen its doors for business.
Source
newspapers
8. December 8, 1930 Receivership
Source
historical_nic

Newspaper Articles (12)
1. November 19, 1896 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, November 19, 1896

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Article Text

Business Failures. Broux CITY, Nov. 19,-The First National bank has closed its doors. The failure is due to heavy withdraw. ale. CHICAGO, Nov. 19. - The Probet Construction company made an assignment to Gustave Wilke, The company is one of the Inrgest contracting concerns in the country. The company buflt the Coliseum, Schiller bullding, and Peristyle at the World's Fair, the Fisheries building. Hagenbacks building on Midway Plaisance, the court house at Fort Worth, Texas, and other notable buildings. NEW YORK, Nov. 19.-Blichter, a member of the Probat Construction company, with headquarters in this city, was questioned today with reference to the report from Chicago that the company had made an assignment. He 9810: "I have heard nothing of the assignment, though naturally I should have been advised. I know no cause for such proceeding." WASHINGTON, Nov. 19.-The comptroller of currency has received notice of the failure of the First National bank, Sioux City, Iowa. The capital is $100,000. The liabilities to depositors at the date of the last report Was $407,000; loans and discounts $492,000. Bank Examiner Bianding bas been placed in charge.

2. November 20, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, November 20, 1896

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Article Text

Two Banks and a Jobbing Firm Go to the Wall. SIOUX CITY, Nov. 19.-(Special Telegram.)-One of the oldest and supposedly the soundest bank in Sioux City went down today, carrying with it another bank and one good business house. The First National bank, organized twenty-six years ago by Thomas J. Stone, who was a pioneer in banking circles here and had conducted a private bank for years, closed at 10 o'clock owing to a run which had exhausted the availabe funds. The bank helped nearly all the other banks three years ago. and was known at that time to have a large amount of money available. Recently the depositors have heard rumors which caused the run. The bank examiner will arrive tomorrow and take charge. The only statement is that made to the comptroller a month 260, as follows:

3. January 1, 1897 St. Johnsbury Caledonian Saint Johnsbury, VT
Article from St. Johnsbury Caledonian, January 1, 1897

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Article Text

assigned; aggregate liabilities, nearly $500,000. The Chicago Consolidated Iron and Steel Co. assigned; liabilities, about $300,000. B. Hilton, Hughes & Co., successors to A. T. Stewart & Co., New York, made a general assignment and closed business; liabilities over $1,000,000. 31. The Kings County Elevated Railway Co. of Brooklyn placed in hands of a receiver. SEPTEMBER. 4. The First National bank of Helena, Mon., failed, with heavy liabilities. 26. The First National bank of Springville, N. Y., suspended. Wolf Bros.' dry goods establishment in Little Rock closed by attachments; liabilities, $500,000. OCTOBER. 6. The Car and Lumber Co. of Tyler, Tex., failed; liabilities, $250,000. John Maclean & Co., wholesale millinery, failed in Montreal; liabilities, $175,000. B. L. Price & Co., clothing manufacturers, failed; liabilities, $125,000. 7. The First National bank of Ithaca, Mich., failed. 14. The Marine National bank of Duluth failed. 15. The Bank of Commerce of Buffalo closed its doors. 16. Merchants' National bank of Atlanta failed. 19. The Western New York Preserving Co., at Buffalo, seized by the sheriff for debt; 11abilities, $167,323. Charles Bertrand & Co., merchants, of Isle Verte, Que., failed, with liabilities of $235,000. 29. The Mecosta County Savings bank, at Big Rapids, Mich., suspended. NOVEMBER. 20. The First National bank of Sioux City, Ia., failed. 23. The Dakota National bank of Sioux Falls failed. 30. The Missouri National bank, at Kansas City, passed into the hands of the comptroller of the currency. The First National bank of Tyler, Tex., failed. DECEMBER. 1. Gage & Felton, bankers and brokers, failed in Boston.

4. January 2, 1897 The Kimball Graphic Kimball, SD
Article from The Kimball Graphic, January 2, 1897

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Article Text

A SIOUX CITY FAILURE. White & Howe Company, Shoe Dealers, Make an Assignment. Sioux City, Dec. 28. The White & Howe company, retail dealers in shoes, assigned early this morning for the benefit of its creditors. A notice to this effect was posted on the door of the company's store about 1 b'clock this morning. The failure was brought on by the fact of the bank failures both in Stoux City and Chicago. When the First National bank of this city failed the company was owing it a considerable sum. The pending reorganization of that bank made it imperative that it have this money, which the company expected to realize from other sources, but the bank failures in Chicago disappointed these hopes, and as it had paper coming due today which it could not meet, the company was constrained to assign for the benefit of its creditors without preference. The White & Howe company consists of W. L. White, president; E. C. White, secretary, and B. A. Judd, additional di. rector.

5. March 18, 1897 Audubon Republican Audubon, IA
Article from Audubon Republican, March 18, 1897

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Article Text

Sioux City Bank Resumes. ASHINGTON, March 17.-The First National bank of Sioux City, Ia., which suspended payment Nov. 19. 1896, having complied with all the conditions precedent to resumption, and its capital stock being now unimpaired, has been permitted to resumeb usiness.

6. March 19, 1897 Iowa State Bystander Des Moines, IA
Article from Iowa State Bystander, March 19, 1897

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Article Text

Sloux City Bank Reopens. WASHINGTON, March 18.-The First National bank of Sioux City, which suspended payment November 19. 1896, and was placed temporarily in the hands of a receiver, has been permitted to reopen its doors for business, sko

7. March 19, 1897 The Bourbon News Paris, KY
Article from The Bourbon News, March 19, 1897

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Article Text

Permitted to Reopen Its Doors. WASHINGTON, March 17.-The First national bank of Sioux City, Ia., which suspended payment November 19, 1896, and was placed temporarily in the hands of a receiver, has been permitted to reopen its doors for business.

8. March 20, 1897 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, March 20, 1897

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Article Text

National Bank Resumes. Washington, March 17.-The First national bank of Sloux City, 1a.. which suspended payment November 19, 1896, and was placed temporarily in the hands of a receiver, has been permitted to reopen its doors for business.

9. March 23, 1897 Willmar Tribune Willmar, MN
Article from Willmar Tribune, March 23, 1897

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Article Text

National Bank Resumes. Washington, March 17.-The First national bank of Sioux City, la., which suspended payment November 19, 1896, and was placed temporarily in the hands of a receiver, has been permitted to reopen its doors for business.

10. March 24, 1897 The True Northerner Paw Paw, MI
Article from The True Northerner, March 24, 1897

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Article Text

National Bank Resumes. Washington, March 17.-The First national bank of Sioux City, la., which suspended payment November 19, 1896, and was placed temporarily in the hands of a receiver, has been permitted to reopen its doors for business.

11. March 24, 1897 Ceredo Advance Ceredo, WV
Article from Ceredo Advance, March 24, 1897

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Article Text

Permitted to Reopen Its Doors. WASHINGTON, March 17.-The First national bank of Sioux City, Ia., which suspended payment November 19, 1896, and was placed temporarily in the hands of a receiver, has been permitted to reopen its doors for business.

12. July 8, 1899 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 8, 1899

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Article Text

Dubuque dispatch, 6: Judge Shiras has refused an application for receiver for the First National bank of Sioux City. The application was made by the First National banks of Yankton and Parker, S. D., who had money on deposit when the crash came a few years ago.