First National Bank (Bozeman, MT)

Episode Information

Episode UID
202700944
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
20270 national
Charter Number
2027
Start Date
August 27, 1878
Location
Bozeman, Montana (45.680, -111.039)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2fc330dce6afc499

Response Measures

None

Receivership Details

Depositor recovery rate
98.9%
Date receivership started
1878-09-14
Date receivership terminated
1899-02-12
OCC cause of failure
Fraud
Share of assets assessed as good
33.8%
Share of assets assessed as doubtful
65.9%
Share of assets assessed as worthless
0.3%

Description

Suspension followed collapse of its associate People's National Bank (Helena); receiver subsequently appointed.

Events (4)

1. August 1, 1872 Chartered
Source
historical_nic
2. August 27, 1878 Suspension
Cause
Local Banks
Cause Details
Closed after the collapse/closure of its associate People's National Bank of Helena, which had drawn currency and resources from the Bozeman bank.
Newspaper Excerpt
On Tuesday morning last, shortly after the hour of opening, the First National Bank of Bozeman, closed its doors in compliance with a telegram from its President, Geo. W. Fox.
Source
newspapers
3. September 14, 1878 Receivership
Source
historical_nic
4. September 14, 1878 Receivership
Newspaper Excerpt
Gen. Lester S. Willson has been appointed receiver of the First National Bank of Bozeman, and Granville Stuart receiver of the People's National Bank, Helena.
Source
newspapers

Newspaper Articles (16)

Article from The Wheeling Daily Intelligencer, August 28, 1878

Click image to open full size in new tab

Article Text

A National Bank Closed. HELENA, MONT., August 27.-Bv a vote of the Board of Directors, the People's National Bank closed its doors this morning. It is expected that a receiver will be appointed and the depositors will lose nothing if the stockholders pay up their assessments. It is an associate bank. The First National Bank of Bozunan, Montana, has also closed its doors.


Article from Daily Globe, August 28, 1878

Click image to open full size in new tab

Article Text

Two Montana Banks Closed. HELENA, Mon., Aug. 27.-By vote of the board of directors the Peoples' National bank closed its doors this morning. It is expected a receiver will be appointed. It is now said the depositors will lose nothing if the stockholders pay up assessments. Its associate bank, the First National, of Boseman, Montana, has also closed its doors.


Article from Bozeman Avant Courier, August 29, 1878

Click image to open full size in new tab

Article Text

Bank Suspended. On Tuesday morning last, shortly after the hour of opening, the First National Bank of Bozeman, closed its doors in compliance with a telegram from its President, Geo. W. Fox. of Helena. Upon enquiry, it was ascertained that the People's National Bank of Helena, with which the Bozeman Bank is associated, after dragging along for many months under a heavy financial pressure, yet drawing steadily from the Bozeman Bank its currency and nearly all its available resources, finally collapsed-closed its doors, and, as a consequence, dragged our Bank down with it. But little excitement, apparently, was caused by the suspension. though several depositors were very much inclined to give vent to their just indignation, and probably some serious demonstrations would have been made, but for the calm and timely advice and assurances of Mr. Nelson Story. It is impossible to state positively whether the Bank will be able to resume business or not. We are informed that its liabilities to private depositors are about $67,000-with available assets of, perhaps, $50,000, and there is due from the People's National Bank about $60,000. The private depositors of the Bozeman Bank are generally of the industrial classes-persons of moderate means, several of whom have every dollar they possess deposited there, and should the Bank not be able to resume or pay its indebtedness in full, those who can least afford it will be, comparatively, the heaviest sufferers. The Bank has bcen one of the best paying, or money-making, institutions of the Territory, and nothing but the most reckless management on the part of its President and principal stock-holder could, apparently, have brought about the present cri813.


Article from The Democratic Advocate, August 31, 1878

Click image to open full size in new tab

Article Text

Governor Wade Hampton is a martyr to dyspepsia. Judge Black has returned home from his California trip. The national debt of England now stands, by the most recent return, at $3,888,907,980. A tramp named Dennis Belor was lynched, near Shelbyville, Tenn., for an outrage on the wife of Wm. Martin, a farmer. A tornado in Grundy county, Illinois, on Saturday, destroyed several baildings, killed one man and severely injured another. The total amount of grain exported from Baltimore, from January 1st up to the 22d instant, is 8,662,966 bushels, being anincrease of over 7,500,000 bushels for the same time last year. Anthony M. Johnson, of Howard county, Md., raised on an average, from a 55-acre field 41 bushels of wheat to the acre, and Mr. James Clark is said to have grown 44 bushels to the acre. Mike Green and John Sprigg, two negroes, have been lodged in jail at Upper Marlboro', Md., charged with the commission of an outrage upon Miss Alice Sweeny, living in Queen Anne's district. Mrs. Fanny Washington Finch, the great grand-niece of Washington, and supposed to be his nearest living relative, is keeping a boarding house in Washington, and has recently had her furniture attached by a landlord for rent. The People's National Bank of Helena, and the First National Bank of Bozeman, Montanna, suspended Tuesday. They were associate banks. It is said that the depositors in the first named bank will loose nothing "if the stockholders pay up their assessments." A tornado and hail storm visited Fargo, Dakota Territory, on Monday night. Ten or fifteen buildings, among them the Episcopal Church and City hall, were demolished, and many others were damaged. All the glass in the windows facing the north throughout the town were smashed. Three persons were injured, and six horses in one stable were killed. A week ago the spikes and fish plates were removed from a rail near Medicine Bow, W. T., apparently for the purpose of wrecking and robbing a train. Deputy Sheriff Widdowfield and a man named Vincent started on the trail of the robbers, but did not return. Last Sunday their bodies were found in a narrow canyon of Elk Mountain, where they had probably been killed by the robbers.


Article from Idaho Semi-Weekly World, September 3, 1878

Click image to open full size in new tab

Article Text

"Oh! no;" replied Cooper, and then continued: "But he has done our cause a-great deal of damage. He is too intemperate in his language." . EUROPEAN EMIGRATION TO OREGON. OMaHa, August 27th.-Col. T. E Hogg, of Oregon, who went to Europe some months ago to stir up immigration to Oregon, passed through to-day homeward bound, and reported that the prospects for European immigration to his State are very poor, as those who had intended to go to Oregon have abandoned the idea, as they liave been scared by the Indian troubles, and therefore he gave up his efforts in that direction. FINANCIAL TROUBLE IN MONTANA. HELENA, August 27th.-By a vote of the Board of Directors, the People's National Bank closed its doors this morning. It is expected that a Receiver will be appointed. It is now said that depositors will lose nothing, if stockholders pay up their assessments. Its associate bank, the First National of Bozeman, Montana, has closed its doors. CONGRESSIONAL LABOR COMMITTEE. NEW YORK, August 27th - The Congressional Labor Committee to-day listened to a recital of the labor statistics of Massachusetts by Carroll D. Wright, Superintendent of the Bureau, who also took a most hopeful view of the outlook. Another hearing will take place to morrow. TRAIN ROBBER CAPTURED. GALVESTON, August 27th -The News' special from Sherman says: Henry Collins, a members of the Bass ga: g of train robbers, was arrested this morning near Howe station, after a sharp skirmish, in which Collins' leg was badly shattered. SARATOGA RACES. SARATOGA, August 27th -The first race, free handicap, one mile, was won by Bramble, Patriot second. Time, 1:45 The second race, free handicap, mile and a quarter, was won by Rhadamanthus, Kilburn second. Time, 2:14. The third race, three-quarters of a mile, was won by Fusilade, Egypt second. Time, 1:17ยฝ. In the fourth race, two miles, over eight hurdles, Deadhead had the lead nearly all the way, and won, Dalgasian second. Time, 3:54 BLOWN UP IN A MINE-STOCK EXCITEMENT INCREASING. VIRGINIA (Nev.), August 28th.-John Eslick was blown up in the Mexican mine last night, and will probably I die. The stock excitement here increases hourly, and buyers are largely in the majority. The air is thick with rumors of strikes at the south end, but nothing positive can be gained. A fight for the control of the Comstock S expected.


Article from Watertown Republican, September 4, 1878

Click image to open full size in new tab

Article Text

THE People's National Bank of Helena, and the First National Bank of Bozeman, both of Montana Territory, have suspended.


Article from Bozeman Avant Courier, September 5, 1878

Click image to open full size in new tab

Article Text

By request of N. P. Langford, Bank Examiner, Gen'l Lester S. Willson has taken charge of the First National Bank of Bozeman, and will probably be appointed Receiver of the institution. Mr. Langford was instructed by the Comptroller of the Currency to take possession of the bank on the 1st inst.


Article from Bozeman Avant Courier, September 19, 1878

Click image to open full size in new tab

Article Text

Gen. Lester S. Willson has been appointed receiver of the First National Bank of Bozeman, and Granville Stuart receiver of the People's National Bank, Helena.


Article from Bozeman Avant Courier, September 26, 1878

Click image to open full size in new tab

Article Text

Notice. WASHINGTON, D. C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Loster S. Willson, Receiver, at Bozeman, Montana, with the legal proof thereof, within three months from this date, or they will be disallowed. JOHN JAY KNOX, [45-3m] Comptroller of the Currency.


Article from Bozeman Avant Courier, October 3, 1878

Click image to open full size in new tab

Article Text

WASHINGTON, D. C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Loster S. Willson, Receiver, at Bozeman, Montana, with the legal proof thereof, within three months from this date, or they will be disallowed. JOHN JAY KNOX, [45-3m] Comptroller of the Currency.


Article from Bozeman Avant Courier, October 10, 1878

Click image to open full size in new tab

Article Text

Notice. W ASHINGTON, D.C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Lester S. Willson, Receiver, at Bozeman, Montana, with the legal proof thereof, within three months from this date, or they will be disalJOHN JAY KNOX, lowed. Comptroller of the Currency. [45-3m]


Article from Bozeman Avant Courier, October 17, 1878

Click image to open full size in new tab

Article Text

W ASHINGTON, D. C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Lester 8. Willson, Receiver, at Boseman, Montana, with the legal proof thereof, within three months from this date, or they will be disaiJOHN JAY KNOX, lowed. Comptroller of the Currency. [45-3m]


Article from Bozeman Avant Courier, October 24, 1878

Click image to open full size in new tab

Article Text

Notice. WASHINGTON, D. C., Sept 17, 1878. Notice Is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Lester S. Willson, Receiver, at Bozeman, Montana, with the legal proof thereof, within three months from this date, or they will be disallowed. JOHN JAY KNOX, Comptroller of the Currency. [45-3m]


Article from Bozeman Avant Courier, November 21, 1878

Click image to open full size in new tab

Article Text

Notice. WASHINGTON, D. C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Lester S. Willson, Receiver, at Bozeman, Monana, with the legal proof thereof, within three months from this date, or they will be disallowed. J HN JAY KNOX, Comptroller of the Currency. [45-3m]


Article from Bozeman Avant Courier, November 28, 1878

Click image to open full size in new tab

Article Text

Notice. WASHINGTON, D. C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Loster S. Willson, Receiver, at Bozeman, Montana, with the legal proof thereof, within three months from this date, or they will be disallowed. JOHN JAY KNOX, [45-3m] Comptroller of the Currency.


Article from Bozeman Avant Courier, December 12, 1878

Click image to open full size in new tab

Article Text

Notice. WASHINGTON, D. C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Loster S. Willson, Receiver, at Bozeman, Montana, with the legal proof thereof, within three months from this date, or they will be disallowed. JOHN JAY KNOX, [45-3m] Comptroller of the Currency.