gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1bf51322049598b5
Response Measures
Full suspension, Books examined
Other: Bank placed in receivership and stockholders voted to liquidate (liquidation/receivership instituted).
Clearinghouse involved: Yes
(loan, examination, or other measures)
Events (5)
1.January 20, 1871Chartered
Source
historical_nic
2.December 26, 1907Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals followed the sudden resignation and disappearance of President William Adler, and receivership of his associated wholesale firm.
Newspaper Excerpt
the State National Bank has suffered heavy withdrawals of money.
Source
newspapers
3.January 23, 1908Suspension
Cause
Voluntary Liquidation
Cause Details
Directors/stockholders moved to wind up the bank after withdrawals and the president's resignation; receivers were appointed and bank was placed in liquidation.
Newspaper Excerpt
the State National Bank and the Adler firm was placed in the hands of receivers.
Source
newspapers
4.January 30, 1908Receivership
Newspaper Excerpt
Liquidation of the State National Bank of New Orleans was decided upon today by a vote of the stockholders. Six liquidators were elected and immediately put in charge of the bank.
Source
newspapers
5.January 30, 1908Voluntary Liquidation
Source
historical_nic
Newspaper Articles (19)
1.December 27, 1907The Montgomery AdvertiserMontgomery, AL
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Article Text
BANK WILL PAY UP STATE NATIONAL BANK OF NEW ORLEANS TO LIQUIDATE. Counsel Announces That Depositors Will Get All Their Money and Holders of Stock Will Be Paid. New Orleans, La., Dec. 26.-"All holders of stock in the State National Bank will receive from $150 to $200 per share for their stock and all depositors will be paid in full," was the official announcement today of W. 8. Parkerson. counsel for the institution, whose directors have called a stockholders' meeting to decid'e whether the bank shall go out of business. The proposition to liquidate was caused by the belief that the resignation of President William Adler last week impaired the bank's usefulness. The bank has since been declared solvent both by National Bank Examiner Cooper and the New Orleans Clearing House Association. Nothing has been given out here about the whereabouts of Mr. Adler. One report has him in New York and another that ne was in charge of a ship load of groceries consigned from here on the steamer Alps to Puerto Cortez, Spanish Honduras, last week. Receivers today took charge of 'the wholesale grocery firm of A. Adler and Company in which Mr. Adler was concerned. Ralph J. Schwartz and Catesby Jones, acting in this capacity, immediately began an examination of the company's books.
2.December 27, 1907The News-DemocratProvidence, RI
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Article Text
NEW ORLEANS STATE NATIONAL MAY LIQUIDATE New Orleans, La., Dec. 27.-"All holders of stock in the State National bank will receive from $150 to $200 per share for their stock and all depositors will be paid in full," was the official announcement, of W. S. Parkerson, counsel for the institution, the directors of which have called a stockholders' meeting to decide whether the bank shall go out of business. The proposition to liquidate was caused by the belief that the resignation of President William Adler last week impaired the bank's usefulness. The bank has since been declared solvent both by National Bank Examiner Cooper and the New Orleans clearing house. Nothing has been given out here about the whereabouts of Mr. Adler. One report has him in New York, and another has him in charge of a ship load of groceries consigned from here on the steamer Alps for Puerto Cortez, Spanish Honduras, last week. Receivers yesterday took charge of the wholesale grocery firm of A. Adler & Co.
3.December 28, 1907The Washington HeraldWashington, DC
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Article Text
ADLER MYSTERY UNSOLVED. Missing Bank President Thought to Have Gone to Honduras, New Orleans, Dec. 27.-The Adler mystery still remains unsoived. Adler, who was president of the State National Bank of this city, left here secretly Saturday on the steamer Alps, which, with a large cargo of groceries and provisions, cleared for Honduras. The vessel should have reached there two or three days ago, but has not been heard from. An investigation disclosed the fact that goods were shipped to the Honduras government. A cablegram was sent by the consul of Honduras here, ordering the stoppage and detention of the cargo, which had not been paid for. The State has withdrawn its balance of $362,000 from the State National Bank and placed it with the other State depositories.
4.December 30, 1907New-York TribuneNew York, NY
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Article Text
MISFORTUNE IN HIS PATH. Banker Adler Shipwerecked Refugee, with His Cargo Gone. New Orleans, Dec. 29.-Almost unparalleled misfortunes have been heaped in the short space of one week upon William Adler, one of the foremost bankers of New Orleans and a leading wholesale grocer. He is now a shipwrecked refugee at Belize, British Honduras. One week ago to-night Mr. Adler's resignation as president of the State National Bank shook the city's financial circles. Since then the bank has announced that it must go out of business; Mr. Adler's wholesale grocery firm has gone into the hands of a receiver; a cargo of groceries consigned to Honduras, which Mr. Adler's friends believed was one of his last hopes of recouping his fortunes, has been lost by shipwreck, and the steamer Alps, carrying both the groceries and Mr. Adler and owned by him, is a total loss by the same wreck. By the merest slip of chance the insurance policy on the shipload of groceries was rendered worthless by failure of premium payment before the wreck. Misfortune has also dealt a blow at one of Mr. Adler's closets friends, Moses Schwartz, a prominent New Orleans merchant. who was with him on the Alps, and whose foundry here went into receivership shortly after the steamer sailed. The Alps lies on Glover's Reef, scarcely fifty miles from the port she was making for-Puerto Cortez. W. E. Lawrence was appointed manager of the wholesale grocery firm of A. Adler & Co. to-day. with instructions to put the business on its feet if possible Eastern creditors are heavily interested in the Adler firm.
5.December 30, 1907The Salt Lake HeraldSalt Lake City, UT
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Article Text
New Orleans, La., Dec. 29.-Almost unparalleled misfortunes have been heaped in the short space of one week upon William Adler, one of New Orleans' foremost bankers and a leading wholesale grocer of the south. The arrival of news today that Mr. Adler is a shipwrecked refugee at Belize, British Honduras, added another chapter to a record already long. One week ago tonight Mr. Adler's resignation as president of the State National bank shook New Orleans financial circles. Since then the bank has announced that it must go out of business; Mr. Adler's wholesale grocery firm, one of the largest in the south, has gone into the hands of a receiver; a load of groceries consigned to Hondueas, which Mr. Adler's friends claimed were one of his last hopes of recouping his fortune, has been lost by shipwreck,
6.December 31, 1907Bryan Morning EagleBryan, TX
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Article Text
MANY MISFORTUNES. Adler Seems to Have Truly Had a Strenuous Time Lately. New Orleans, Dec. 30.-Almost unparalleled misfortunes have been heaped in the short space of one week upon Mr. Adler, one of New Orleans' foremost bankers, and a leading wholesale grocer of the south. The arrival of news that Mr. Adler is a shipwreck at Belize, British Honduras, added several misfortunes to a record already big. A week ago Sunday night Mr. Ad ler's resignation as president of the State National bank shoot o'd New Orleans financial circles. Since then the bank has announced that it must go out of business. Mr. Adler's whole. sale grocery firm. one of the largest in the south. has gone into the hands of a receiver: a load of groceries consigned to Honduras, which Mr. Ad ler's friends claimed was one of the his largest hopes for recuperating misfortunes, has been lost by shipwreck, and the steamer Alps, carrying both the groceries and Mr. Adler, is a total wreck. By the merest slip of chance. the insurance policy on the shipload of groceries was rendered worthless by failure of premium payment before the wreck. Misfortune has also dealt a blow to one of Mr. Adler's closest friends, Moses Schwartz, a prominent New Orleans merchant, who was with Mr. Adler on the Alps, and whose foundry here went into receiversip control shortly after the steamer sailed. The Alps lies at Glover's reef, scareely fifty miles from the port she was making for. Puerto Cortez. Honduras. W. E. Lawrence was appointed manager of the wholesale grocery firm of A. Adier & Co., with instructions to put the business on its feet if possible. Eastern creditors are heavily interested in the Adler firm.
7.January 1, 1908Tonopah Daily BonanzaTonopah, NV
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Article Text
FICKLE FORTUNE FROWNED ON ADLER NEW ORLEANS, Dec. 31.-Almost unparalleled misfortunes have been heaped in the short space of one week upon William Adler, one of New Orleans' foremost bankers and a leading wholesale grocer of the south. The arrival of news today that Mr. Adler is a shipwrecked refugee at Belize, British Honduras, added another chapter to a record already long. One week ago tonight Mr. Adler's resignation as president of the State National Bank shook New Orleans financial circles. Since then the bank has announced that it must go out of business. Mr. Adler's wholesale gr8cery firm, one of the largest in the South, has gone into the hands of a receiver, a load of groceries consigned to Honduras, which Mr. Adler's friends claimed were one of his last hopes of recouping his fortune, has been lost by shipwreck, and the steamer Alps, carrying both the groceries and Mr. Adler and owned by him, is a total loss by the same wreck. By the merest chance, the insurance policy on the shipload of groceries was rendered worthless by failure of premium payment.
# VICTIM OF MISFORTUNE.
Hard Luck Pursues Prominent New Orleans Banker.
New Orleans, Dec. 30.-Almost unparalleled misfortunes have been heaped in the short space of one week upon William Adler, one of New Orleans' foremost bankers, and a leading wholesale grocer of the South. The arrival of news that Mr. Adler is a shipwrecked refugee at Belize, British Honduras, added several new misfortunes to a record already big.
One week ago Mr. Adler's resignation as president of the State National bank shook New Orleans' financial circles. Since then the bank has announced that it must go out of business. Mr. Adler's wholesale grocery firm, one of the largest in the South, has gone into the hands of a receiver; a load of groceries consigned to Honduras, which Mr. Adler's friends claimed was one of his last hopes of recouping his fortunes, has been lost by shipwreck and the steamer Alps, carrying both the groceries and Mr. Adler, and owned by Mr. Adler, is a total loss by the same wreck.
By the merest slip of chance the insurance policy on the shipload of groceries was rendered worthless by failure of premium payment before the wreck.
Misfortune has also dealt a blow at one of Mr. Adler's closest friends, Moses Schwartz, a prominent New Orleans merchant, who was with Mr. Adler on the Alps, and whose foundry here went into receivership shortly after the steamer sailed.
The Alps lies on Glovers Reef, scarcely fifty miles from the port she was making for, Puerto Cortez, Honduras.
9.January 3, 1908Tensas GazetteSaint Joseph, LA
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Article Text
Trouble For Adler. New Orleans.-Almiost unparalleled misfortunes have been heaped in the short space of one week upon William Adler, one of New Orlean's fore most bankers and a leading wholesale grocer of the South. The arrival of news that Mr. Adler is a shipwreck refugee at Belize, British Honduras, added several new misfortunes to a record already big. One week ago Mr. Adler's resignation as president of the State National bank shook New Orleans financial circles. Since then the bank has announced that it must go out of business. Mr. Adler's wholesale grocery firm, one of the largest in the South, has gone into the hands of a receiver; a load of groceries consigned to Honduras, which Mr. Adler's friends claimed were one of his last hopes of recouping his fortunes, has been lost by shipwreck; and the steamer Alps, earrying both the groceries and Mr. Adler, and owned by Mr. Adler, is a total loss by the same wreck. By the merest slip of chance the insurance policy on the shipload of groceries was rendered worthless by failure of premium payment before the wreck.
10.January 24, 1908The Montgomery AdvertiserMontgomery, AL
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Article Text
MRS. ADLER DEPARTS. Supposed She Will Join Her Husband At Port Cortez. New Orleans, La., Jan. 23.-Mrs. William Adler, wife of the former President of the State National Bank, accompanied by four of her children, left New Orleans today on the steamer Mobila for Port Cortez, Spanish Honduras. Adler, who was also the head of the wholesale grocery and commission firm of A. Adler and Company, recently disappeared from New Orleans. Following his departure, a new president was elected and the State National Bank and the Adler firm was placed in the hands of receivers. Adler is now reported to be in Central America, where he has mining property.
11.January 31, 1908The Montgomery AdvertiserMontgomery, AL
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BANKS TO LIQUIDATE. Stockholders of New Orleans Institution Decide on Action. New Orleans, LA., Jan., 30-Liquida+ tion of the State National Bank of New Orleans was decided upon today by a vote of the stock-holders. This bank is nearly one hundred years old. Following the resignation of President William Adler several weeks ago and a receivership for a large grocery firm of which he was head, the State National Bank has suffered heavy withdrawals of money. Six liquidations were elected and immediately put in charge of the bank. They are: John H. Fulton, Charles Janvier, Charles Godchauz, Warren Kearny, Louis Kohlman and Charles A. Morgan.
12.January 31, 1908The Birmingham Age-HeraldBirmingham, AL
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Bank To Be Liquidated. New Orleans, January 30-Liquidation of the State National bank of New Orleans was decided upon today by a vote of the stockholders. This bank is nearly 100 years old. Following the resignation of President Wliliam Adler several weeks ago and a receivership for a large grocery firm of which he was head, the State National bank has suffered heavy withdrawals of money. Six liquidators were elected and immediately put in charge of the bank. They are: John H. Fulton, Charles Janvier, Charles Godchaux, Warren Kearney, Louis Kohlman and Charles A. Morgan.
13.February 1, 1908The Sea Coast EchoBay Saint Louis, MS
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Article Text
N. 0. INSTITUTION WILL LIQUIDATE. Stockholders of State National Bank So Decide. New Orleans, Jan. 30.-Liquidation of the State National Bank of New Orleans was decided upon today by a vote of the stockholders. The bank is nearly one hundred years old. Following the resignation of President William Adler several weeks ago and a receivership for a large grocery firm, of which he was the head, the State National Bank has suffered heavy withdrawals of money. Six liquidators were elected and immediately put in charge of the bank. They are: John R. Fulton, Charles Janvier, Charles Codchaux, Warren Kearney, Louis Kohlman and Charles A. Morgan.
14.February 6, 1908The Dakota ChiefGann Valley, SD
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Article Text
New Orleans Bank Quits. Liquidation of the State National bank of New Orleans, La., was decided on by a vote of the stockholders. This bank is nearly 100 years old. Following the resignation of President William Adler several weeks ago and a receivership for a large grocery firm of which he was head, the State National bank has suffered heavy withdrawals.
15.February 6, 1908The Brandon NewsBrandon, MS
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Article Text
New Orleans.-Liquidation of the State National Bank of New Orleans, was decided upon by a vote of the stockholders. This bank is nearly one hundred years old. Following the resignation of President William Adler several weeks ago, and a receivership for a large grocery firm of which he was head, the State National Bank has suffered heavy withdrawals of money. Six liquidators were elected and immediately put in charge of the bank.
16.February 15, 1908The Colfax ChronicleColfax, LA
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Bank Will Liquidate. Liquidation of t he State National Bank of New Orleans was decided upon by a vote of the stockholders. This bank is nearly 100 years old. Following the resignation of President William Adler several weeks ago and a receivership for a large grocery firm of which he was head, the State National Bank suffered heavy withdrawals of money.
17.November 14, 1908The Donaldsonville ChiefDonaldsonville, Gonzales, LA
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William Adler, the absconding pres. ident of the State National Bank of New Orleans, voluntarily returned from Honduras last Monday and gave bond of $10,000 to answer indictments for misuse of the funds of that institution which caused its suspension. The fugitive was given a cordial welcome by his relatives and friends, and they all seem to share his feeling expres sion of confidence that he will be able to clear his skirts of any wrong doing It is claimed that he has established a profitable mercantile business in Hou duras and that his mining properties in that country are very valuable and productive.
18.May 21, 1909The Penn's Grove RecordPenns Grove, NJ
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TELEGRAPH No Sports on Docoration Day. San Francisco.-Athletic sports on Memorial Day and other exercises are forbidden to the soldiers of the National Guard and members of the State Naval Militia. Maldwin Drummond Has Smallpox. Chicago. 1 Maldwin Drummond, whose marriage to Mrs. Marshall Field, Jr., was one of the events of the London social season last year, is seriously ill with smallpox. Filed $100,000,000 Mortgage. Pierre, S. D.-The Chicago, Milwaukee and Puget Sound Railway Company filed with the Secretary of State a mortgage for $100,000,000 to the United States Trust Company, of New York, to cover an issue of four per cent. bonds running thirty years. Prohibition Loses in Missouri. Jefferson City, Mo. - The Senate concurred in the joint resolutior passed by the House fixing the time for sine die adjournment. The action kills the prohibition measure. Adler, Banker, Convicted. New Orleans, La.-The jury convicted William Adler, president of the defunct State National Bank, in the United States Court here of misapplying the funds of the bank. Night Rider Juror Kills Himself. Union City, Tenn.-Mansfield Haroldson, one of the jurors who tried the eight night riders here last January, six of whom were sentenced to be hanged, committed suicide by hanging. John Smith Monument. Richmond, Va.-Joseph Bryan, Jr., has unveiled the John Smith monument, on Jamestown Island, and the statue, which is the gift of his grandfather, the late Joseph Bryan, becomes the property Of the Association for the Preservation of Virginia Antiquities.
19.October 4, 1910The CaucasianShreveport, LA
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WILLIAM ADLER Is Granted a New Trial and First Verdict Set Aside. Atlanta, Ga., Oct. 3.-Judge Shelby of the United States Circuit Court of Appeals today handed down a nopinion in the case of William Adler, former president of the State National Bank. versus the United States, reversing the decision of the lower court, the United States Circuit Court for the Eastern District of Louisiana. Adler was convicted of misapplication, abstraction and embezzlement. The case was remanded for a new trial. N. O. States Oct. 3: A telegram from Atlanta, Ga., which reached New Orleans Monday afternoon, announced that the United States Circuit Court of Appeals, sitting at that place, had rendered a decision in the case of William Adler, granting him a new trial. The telegram did not state the grounds assigned for setting aside the verdict of the jury in the case an dordering it re-tried, nor did it say whether or not the court was divided or unanimous in reaching its conclusion. At the office of the federal district attorney here no information was available about the judgmetn, as official intelligence of the decision had. not reached that department. HI ORY OF THE CASE. Mr. William Adler was formerly the president of the State National Bank, now defunct, and was indicted by the Federal- grand jury in connection with the failure of that institution in December 1907. He had been prominent in local business and financial circles for a number of years and the charges against him created a genuine sensation. The receivership proceedings against the wholesale firm of A. Adler & Co., long a pillar of commercial strength here, grew out of the failure of the bank.
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.
