gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a870837258721596
Response Measures
Public signal of financial health, Full suspension, Books examined
Receivership Details
Depositor recovery rate
77.6%
Date receivership started
1908-11-20
Date receivership terminated
1910-04-16
OCC cause of failure
Fraud
Share of assets assessed as good
54.6%
Share of assets assessed as doubtful
41.9%
Share of assets assessed as worthless
3.5%
Description
Some articles give Nov. 18 as closing date, others Nov. 20; receiver appointment reported Nov. 20.
Events (5)
1.January 10, 1871Chartered
Source
historical_nic
2.November 19, 1908Run
Cause
Rumor Or Misinformation
Cause Details
Run attributed to malicious reports spread by enemies of the bank; depositors withdrew about $56,000 over two days.
Newspaper Excerpt
There was a two days' run on it.
Source
newspapers
3.November 20, 1908Receivership
Source
historical_nic
4.November 20, 1908Receivership
Newspaper Excerpt
Comptroller of the Currency Murray today appointed James D. Bradley ... receiver of the First National Bank of Fort Scott, Kan.
Source
newspapers
5.November 20, 1908Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank closed by its president after the run which officers said was prompted by malicious reports; request made for a federal receiver.
Newspaper Excerpt
The First National bank of this city was closed today by order of President Grant Hornaday. Washington authorities have been requested to appoint a receiver.
FORT SCOTT BANKER ASKS FOR RECEIVER Rush Started by Malicious Reports Spread by Enemies Continued For Two Days. Fort Scott. Kan. Nov. 20.-First National bank of this city, one of the oldest in the state closed doors today. Depositors number about 2000 and the bank had deposits of $702,000. President Grant Hernaday said assets exceeded liabilities $127,000. Failure, he said. was caused by malicious reports spread by enemies.
RUN ON BANK Causes Comptroller of the Currency to Appoint a Receiver for Bank. WASHINGTON, D. C., Nov., 19Comptroller of the Currency Murray today a (ppointed Jumes D. Bradley, a bank examiner, receiver of the First National Bank of Fort Scott, Kan. There was a run on the bank the last two days. The back's capital is $100,000. and it had a surplus of $25,000.
3.November 20, 1908The Evening StatesmanWalla Walla, WA
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Article Text
NATIONAL BANK GONE REPUBLICAN FORT SCOTT, Kansas, Nov. 20.The First National Bank of this city was closed today by order of President Grant Hornday. Washington authorities have been requested to appoint a receiver. Liabilities are given at $662,000 and assets, $789,000. The causes of the failure were not announced. Hornday declared his private fortune would protect depositors.
4.November 20, 1908The Spokane PressSpokane, WA
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Article Text
BANK SUSPENDS FORT SCOTT, Kas., Nov. 20.The First National bank of this city closed its doors today by order of President Grant Hornaday. The Washington authorities were requested to appoint a receiver. The liabilities are $662,000 and the assets $789,000. The cause of the failure was not announced. President Hornaday declared his private fortune would protect the depositors.
5.November 20, 1908East Oregonian : E.OPendleton, OR
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Article Text
NATIONAL BANK FAILS AT FORT SCOTT, KANSAS. Fort Scott, Kan., Nov. 20.-The First National bank of this city was closed today by order of the president, Grant Hornaday. Washington authorities have been requested to appoint a receiver. The liabilities are $662,000 and assets $789,000. The causes of the failure are not announeed. Hornaday declared his private fortune will protect the depositors.
6.November 20, 1908The Barre Daily TimesBarre, VT
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Article Text
FORT SCOTT BANK CLOSED ITS DOORS Entire Fortune of Its President May Be Wiped Out, and Others May Be Involved in the Collapse. Fort Scott, Kan., Nov. 20.-The First National Bank here closed its doors today on order of President Hornaday. Washington has been asked to send a receiver. The liabilities are about $500,000. It may wipe out President Hornaday's fortune, and may involve many others.
7.November 21, 1908Bryan Morning EagleBryan, TX
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Article Text
Bank Closes Doors. Fort Scott, Kan., Nov. 20.-First National bank, one of the oldest in the state, has closed its doors. Deposits are $702,000, its capital stock is $100, 000 and surplus $25,000. There was a two days' run on it. Bank Examiner Bradley has, at the request of the bank's officers, been appointed receiver.
KANSAS BANK CLOSES. Fort Scott, Kan., Nov. 23.-The First National bank of Fort Scott, one of the oldest banks in the state, closed its doors this morning. The bank had deposits of $72,000. The closing followed a run on the bank yesterday. President Hornaday stated the failure was the result of malicious reports spread by enemies of the bank, and said that the bank assets exceed the liabilities by $17,000. Depositors will be paid in full.
9.November 26, 1908Wood County ReporterWisconsin Rapids, WI
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Article Text
Kansas Bank Closes Doors. The First National Bank of Fort Scott, Kan., one of the oldest banks in the State, closed its doors Friday morning. The bank had deposits of $702,000. The closing followed a run on the bank, during which depositors withdrew $56,000.
10.November 26, 1908The Plymouth TribunePlymouth, IN
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Article Text
Bank Breaks Following Run. The First National Bank of Fort Scott. Kan., one of the oldest banks in the State, closed its doors Friday morning. The bank had deposits of $702,000. The closing followed a run on the bank, during which depositors withdrew $56,000.
11.November 26, 1908Warren SheafWarren, MN
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Article Text
Close a Kansas Bank. Washington, Nov. 21.-Comptroller of the Currency Murray Friday appointed James D. Bradley, bank examiner, as receiver of the First National bank of Fort Scott, Kan. This action was taken upon receipt of a telegram from President Hornaday asking that a receiver be appointed, owing tb a run on the bank which had $ insula ital of $100,000, according to the last report, and a surplus of $25,000.
12.November 26, 1908The Bon Homme County IndependentTabor, SD
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Article Text
KANSAS BANK CLOSE& Fort Scott, Kan., Nov. 23.-The First National bank of Fort Scott, one of the oldest banks in the state, closed its doors this morning. The bank had deposits of $72,000. The closing followed a run on the bank yesterday. President Hornaday stated the failure was the result of malicious reports spread by enemies of the bank, and said that the bank asnets exceed the liabilities by $17,000. Depositors will be paid in full.
13.November 27, 1908The Black Hills Union and Western Stock ReviewRapid City, SD
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Article Text
National Bank Closed Doors. Ft. Scott, Kas., Nov. 20.-The First National bank closed its doors today on account of a run which was begun yesterday, when $56,000 was withdrawn. The institution was capitalized at $100,000; surplus, $25,000; deposits, $702,000. President Hornaday said the run was caused by malicious reports circulated by enemies. He declared the banks assets exceeded the liabilities $127,000.
14.December 1, 1908Wausau PilotWausau, WI
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Article Text
Kansas Bank Closes Doors. The First National Bank of Fort Scott, Kan., one of the oldest banks in the State, closed its doors Friday morning. The bank had deposits of $702,000. The closing followed a run on the bank, during which depositors withdrew $56,000.
A Kansan to be Receiver. John Watt of Newton received a telegram from the comptroller of the currency at Washington appointing him receiver of the First National bank of Fort Scott.
16.December 19, 1908The Topeka State JournalTopeka, KS
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Article Text
A Chance for the Depositors. Fort Scott, Kan., Dec. 19.-John Watts, receiver of the failed First National bank here, has announced that the doors of the bank would be opened Monday, December 21, for the filing of the claims of depositors against the institution. The government allows three months for the filing of these claims. The bank was closed November 18. There was on deposit at that time $490,000. The bank has 2,000 depositors.
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.