gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3eba5ccba1051dec
Response Measures
Capital injected, Full suspension, Books examined
Other: Bank called in loans and realized on securities to raise cash; merchants and depositors placed funds at disposal of suspended banks; Comptroller/examiner imposed conditions for resumption.
Description
Sources give slightly different suspension dates (reports cite July 5–15, 1893).
Events (5)
1.July 6, 1881Chartered
Source
historical_nic
2.July 5, 1893Run
Cause
Local Banks
Cause Details
Runs began after the American National bank in Pueblo failed/closed, triggering withdrawals at other local banks including Central National.
Measures
Closed doors immediately to prevent unequal withdrawals; called in loans and collected securities in preparation for resumption.
Newspaper Excerpt
After the suspension of the American National became known something of a run was started on the First National bank... The Central National closed up at once
Source
newspapers
3.July 5, 1893Suspension
Cause
Local Banks
Cause Details
Suspension resulted from continued runs sparked by failure/closure of another local bank (American National) and inability to obtain currency on securities.
Newspaper Excerpt
On Wednesday the American National, Western National and Central National banks of Pueblo closed their doors. This was made necessary by the continued runs upon them.
Source
newspapers
4.August 19, 1893Reopening
Newspaper Excerpt
Bank Examiner J. Sam Brown today gave permission to the Central National bank, which suspended July 15, to resume business Monday morning. The American and Western National banks ... received permission from Comptroller Eckels to resume.
Source
newspapers
5.January 15, 1898Voluntary Liquidation
Source
historical_nic
Newspaper Articles (21)
1.July 6, 1893Pawtucket TribunePawtucket, RI
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PUEBLO'S BANKS. Trouble With the American National Caused Two Others to Suspend. PUEBLO, Colo., July a-The American National bank was not opened yesterday. Notices on the door stated that the bank would resurre as soon AB It secured money on its paper. The suspension was a general surprise, and a large number of de positors will have to wait a couple of weeks for their money. The bank has 89 sets of over a million and a quarter, yet could not get hold of sufficient currency on its terms to keep going and closed in order to give everybody an even chance. Liabilities, including deposits, $633,000. After the suspension of the American National became known something of a run was started on the First National bank, but it was ready for everybody and the run did not last long. It served, how. ever, to frighten two of the other banks. The Central National closed up at once, and the Western National closed the moment an unusual amount of depositors appeared. These are all sound concerns and assets are ample. The Central National has assets of $200,000 and liabilities of $85,000.
2.July 7, 1893The Morning CallSan Francisco, CA
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play a part in the selection of the Speaker. The announcement that there is a possibility that Bland may be replaced as chairman of the Committee of Coinage, Weights and Measures has them to renewed efforts. Stories of an attempted combination between the free silver advocates and the Populists to place a candidate for the speakership in the field unless they have an assurance from Crisp that Bland will be retained at the head f"the committee are floating about. but are not generally credited, for, though it is openly said by some that Bland will not again be chairman of the committee, there are no facts that would warrant such an assertion. Crisp has not even intimated such a thing. Among the more conservative the impression is that Bland will lead the committee. This would not, however, indicate that the entire committee will remain. It is known that Crisp has made absolutely no pledges one way or the other. Senator Harris, President pro tem. of the Senate, says there will be filibustering in the Senate against the bill to rapeal the Sherman law. Comptroller Eckels states that from information given out in his office yesterday he directed Bank Examiner Wilson to take charge of the First National Bank of Albuquerque, N. Mex., through a mistake. The name of the failed bank is the Albuquerque (N. Mex.) National Bank. Five national banks failed yesterday and this morning, as reported to Comptroller Eckels. They were: The American National Bank of Paeblo, Colo.; Central National Bank of Pueblo, Colo.; Puget Sound National Bank at Everett, Wash.; National Bank of Ashland, Ashland, Nebr., and the First National Bank of Winston, N. C. Comptroller Ecke's has directed Examiner Brown to assume charge of the two above-named failed banks at Pueblo, Examiner Horine of the failed Ashland Bank, Examiner Cleary of the failed Everett Bank and Examiner Carscadon of theifailed Winston Bank. The Comptroller of the Currency has been informed that the First National Bank of Los Angeles and the Southern California Bank of the same place, both of which suspended recently, will open their doors again for business within a few days. The Comptroller has also been informed that the First National Bank of San Diego, which reopened for business yesterday, has received deposits to the amount of $25,000, as against withdrawals to the amount of $8000. This is regarded as evidence of returning confidence. The Washington National Bank of Spokane reopened for business this morning. The gold in the treasury now amounts to $96,778,943.
3.July 7, 1893New-York TribuneNew York, NY
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FAILURES OF WESTERN BANKS. A FEW MORE SUSPENSIONS REPORTED-TWO BANKS RESUME AGAIN. Omaha, Neb., July 6.-The American Savings Bank suspended this morning with deposits of $133,000 and assets of $239,000. It was involved in the embarrassment of the American Loan and Trust Company. through the latter's enterprise, the Omaha and South Texas Land Company. Everett. Wash., July 6.-On account of inability to realize on securities the Puget Sound National Bank. of Everett. suspended yesterday. The suspension is said to be owing to the refusal of Eastern banks to honor heavy drafts on security affirmed. No statement is yet made. The bank's capital is $100,000. Worthington, Minn., July 6.-The Noble County Bank closed its doors yesterday morning, and its owner, Peter Thompson. made an assignment. Several thousand dollars of county money are tied up. Sumas, Wash., July 6.-The Bank of Sumas suspended payment on Monday. No statement was made. but it is thought creditors will be paid in full. Topeka. Kan., July 6.-Two Kansas banks closed their doors yesterday. The failure of the Finney County Bank, at Garden City, was not unexpected. as the bank has for "Some time been in bad condition. The bank of Leroy, Coffey County, also closed. Washington, July 6.-The Controller of the Currency is informed that the First National Bank of Los Angeles, Cal., and the Southern California Bank of the same place. which suspended recently, will few open their doors for business again within a days. Controller Eckels is adopting precautions in all cases where suspended banks apply for permission to resume. to make sure that the banks are put on an absolutely sound basis before the request is granted in order to guard againt a second suspension within a short time. The Controller is informed that the First National Bank of San Diego, Cal. which reopened for business yesterday, received deposits to the amount of $25.000, as against withdrawals to the amount of $8,000. This is regarded as an evidence of returning confidence. The Washington National Bank of Spokane reopened for business this morning. Controller his Pckels states that the information given out m office yesterday that he had directed Bank Examiner Wilson to take charge of the First National Bank of Albuquerque, N. M., was a mistake. The name of the failed bank was the Albuquerque, N. M., National Bank. Five National banks failed yesterday and this morning, as reported to Mr. Eckels. They were the American National Bank of Pueblo, Col.: the Central National Bank of Pueblo, Col.: the Puget Sound National Bank, of Everett. Wash.: the National Bank of Ashiand, Neb., and the First Na tional Bank of Winston, N. C. Controller Eckels has directed Examiner Brown to assume charge of the two banks at Pueblo. Examiner Horine of the Ashland bank, Examiner Cleary of the Everett bank and Examiner Carskadon of the Winston bank.
4.July 8, 1893The Lamar RegisterLamar, CO
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Article Text
On Wednesday the American National, Western National and Central National banks of Puebloclosed their doors. This was made necessary by the continued runs upon them. There is DO doubt whatever but that the depositors will receive their money in full The assets of each institutionassets that in ordinary times could at once be converted into currency, far exceed their liabilities. But at the present time, it is simply impossible to secure currency upon any securities. As soon as the presect fright subsides the banks will without trouble cash their securities, pay their depositors in full and resame business.
5.July 11, 1893Arizona RepublicanPhoenix, AZ
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NOBLE PUEBLO. Banking in Pueblo, Colo., is carried on with less risk and more satisfaction than in the towns effervescent and villages of California. The American National bank there with a capital of more than a million dollars suspended last week followed the same day by the suspension of the Western National and Central National, both strong institutions.. This was enough to rattle the town and lead to the belief that the end of the financial world had come. The majority of the people, however, kept their heads and every available dollar was placed at the disposal of the susMerchants made pended banks. changes in their ads in the newspapers and announced to their customers that checks on those banks would be gladly received in payment for merchandise. The banks have not yet resumed, but the people are cheerful and confident. It IS a significant fact that those who were engaged in the run were foreigners and persons of means who were living upon their deposits.
6.July 13, 1893The Farmers' UnionMemphis, MO
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FINANCIAL AND INDUSTRIAL --The Omaha and South Texas Company. which built manufacturing suburb to Houston, Texas, has assigned with liabilities of $400,000. -Three of the six national banks of Pueblo, Colo., closed their doors They were the American National. Western National, and Central National. - -THE Wellston (Ohio) Furnace Company. owned principally by Forsythe, Hyde & Co., of Chicago. has been placed in the hands of a receiver. -A receiver has been appointed for the American Loan and Trust Company at Omaha. The concern was interested in the Omaha and Houston Improvement Company. which failed at Houston, Texas. The American Savings Bank, controlled by the trust company. has been placed in the hands of the State Bank Examiner.
7.July 15, 1893The Bessemer IndicatorPueblo, Bessemer, CO
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The Suspended Banks. The three Pueblo banks which suspended on the 5 inst, the Western, the American and the Central National have not yet re-opened for business though there is no question but that they will some time this month. It is the current report that the American has had an understanding with its heaviest depositors with whom the bank is on the best of terms, which understanding will enable the bank to open up all the sooner. The Central has called in enough loans to tide over and it will experience but a very small run when its doors swing open to the public. The Western has a multitude of small dopositors and is no doubt preparing for considerable of a run which seems inevitable when it resumes business. President Graham has said that the bank can raise three dollars for every dollar on deposit and every effort is being made to collect loans and realize on its securities. The bank examiners, Frank Adams and J. S. Brown are still at work and as seon as their report can be acted upon by the comtroller at Washington the bonks will all reened
8.July 15, 1893Chicago EagleChicago, IL
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NATIONAL BANKS COLLAPSE. Five More Placed in Charge of Examiners -Other Business Troubles. Five national banks failed Thursday, as reported to Comptroller Eckels. They were; The American National Bank of Pueblo, Col. : the Central National Bank of Pueblo, Col.: the Puget Sound National Bank of Everett, Wash.: the National Bank of Ashland, Ashland, Neb.; and the First National Bank of Winston, N. Y. Comptroller Eckels has directed Examiner Brown to assume charge of the two failed banks at Pueblo, Examiner Hovine of the failed Ashland bank. Examiner Cleary of the failed Everett Bank. and Examiner Carskadon of the failed Winston Bank At Omaha. the American Savings Bank suspended. with deposits of $153,000 and assets of $259,000. It was involved by the embarrassment of the American Loan and Trust Company, through the latter's enterprise, the Omaha and South Texas Land Company. L. C. Lock & Co., merchants of Alma. Ark., have been closed up on attachments aggregating $20.000. Receivers were appointed for the Northwestern Hardware Company. an Illinois corporation. with offices in Philadelphia
9.July 15, 1893Western Kansas WorldWakeeney, KS
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Runs on Pueblo Banks. PUEBLO, COL.. July - -For a week or more large withdrawals have been made of deposits in all the banks, which culminated in a general run. commencing at the American National. This bank was compelled to close its doors. Meantime runs had commenced upon the Western National and the First National; the first named closing up; but the last paying out money as fast as there was room at the counters to do it. The Central National closed at noon. The Pueblo Savings bank was visited by a long line of depositors, but was saved by the sixty days notice privilege given it by the law.
WILL RESUME. PUEBLO, Col., Aug. 19.-The Central National bank, which suspended on July 15, will resume business on Monday morning. The American and the Western National banks will probably resume at an early date. WASHINGTON, Aug. 19-The Waxahachie National bank of Waxahachie, Tex., which suspended payment on Aug. 11, was today permitted to resume business.
11.August 20, 1893The Helena IndependentHelena, MT
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Banks Resume. PUEBLO, Col., Aug. 19.-Bank Examines J. Sam. Brown to-day wave permission to the Central National bank. which suapended July 15, to resume business Monday morning. The American and Western National banks, which suapended the same day. have received permission from CounD. troller Eckels to resume and are rapidly complying with the conditions required.
12.August 20, 1893St. Paul Daily GlobeSaint Paul, MN
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Will Resume. PUEBLO, Col., Aug. 19.-Bank Examiner J. Sam B rown today gave permission to the Central National bank, which suspended July 15, to resume business Monday morning. The American and Western National banks, which suspended the same day, have received permission from Comptroller Eckels to resume, and are rapidly complying with the conditions required.
13.August 20, 1893The HeraldLos Angeles, CA
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Pueblo Banks Resuming. PUEBLO, Colo., Aug. 19.-Bank Examiner J. Sam Brown today gave permission to the Central National bank which suspended July 15th to resume business Monday morning. The American and Western National banks which suspended the same day have received permission from Comptroller Eckles to resume and are rapidly complying with the conditions required.
14.August 20, 1893The Seattle Post-IntelligencerSeattle, WA
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Pueblo Banks to Resume Soon. PUEBLO, Col., Aug. 19.-Bank Examiner J. Sam Brown today gave permission to the Central National bank, which suspended July 15, to resume business Monday morning. The American and Western National banks, which suspended the same day, have received permission from Comptroller Eckels to resume, and are rapidly complying with the conditions required.
15.August 20, 1893The Salt Lake HeraldSalt Lake City, UT
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Pueblo Banks Resume. PUEBLO, Colo., Aug. 19.-Bank Examiner J. Sam. Brown today gave permission to the Central National bank, which suspended July 15, to resume business Monday morning. The American and Western National banks, which suspended the same day, received permission from Comptroller Eckles to resume and are rapidly complying with the conditions required.
16.August 21, 1893Deseret Evening NewsSalt Lake City, UT
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Will Resume. GREAT FALLS, Mont, Aug. 19.The First National bank of this city will probably resume. PUEBLO, Colo., Aug. 19,-Bank Examiner J. Sanborn today gave permission to the Central National bank, which suspended July 15th, to resume business Monday morning. The American and Western National banks, which suspended the same day, received permission from Comptroller Eckels to resume.
17.August 24, 1893Reporter and FarmerWebster, SD
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WILL RESUME. Pueblo, Colo., Aug. 21.-Bank Examiner J. Sam Brown gave permission to the Central National bank, which suspended July 15, to resume business this morning The American and Western National banks, which suspended the same day, have received permission from Controller Eckels to resume, and are rapidly complying with the conditions required.
18.August 26, 1893The Meeker HeraldMeeker, CO
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Three of the suspended national banks of Denver have resumed business again. They are-the National Bank of Commerce, the People's national and the Union national. The Central national of Pueblo, the Greeley national of Greeley, the American national of Leadville, and the First national of Rico, have also resumed. This shows that confidence is returning and the outlook for Colorado much brighter.
19.August 26, 1893The Irish StandardMinneapolis, Saint Paul, MN
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Doors Again Open. WASHINGTON, Aug. 22.-The following suspended banks have resumed business: The People's national and Union national at Denver, Central national at Pueblo, Col., Greeley national at Greely, Col., Hamilton county state bank at Webster City, Ia., Hamilton county state bank at Fort Dodge, Ia., and Hennings bank at Plano, Ill.
20.January 20, 1894The Bessemer IndicatorPueblo, Bessemer, CO
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NOTICE TO DEPOSITORS Of the Central National Bank. When the Central National bank of Pueblo, then suspended, asked its depositors for an extension it said to them. We expect that this bank, from the exceptionally favorable character of its assets. will be able to pay off these proposed time certificates long before they fall due, and it will be our endeavor to do so." That expectation has been fulfilled, and we gladly keep our promise. This bank is now ready to pay all of its resumption certificates, and will do so on demand. with interest to date of presentation DELOS L. HOLDEN, President.
21.January 30, 1898The HeraldLos Angeles, CA
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National Bank Changes The latest bulletin of the comptroller of the currency, dated Jan. 24 1898, gives the following among other changes: National Bank Organized-The First National bank of Leonard, Texas; capital, $50,000; J. O. Kuyrkendall, president; W. L. Reed, cashier. Application to Organize National Bank Approved-The First National bank of Lake Mills, Iowa; capital, $50,000; by the following persons: B. H. Thomas, O. V. Eckert, L. B. Nerby et al. Voluntary Liquidations-The First National bank, Bath, N. Y. ; the Central National bank of Pueblo, Colo.; the Alexandria National bank, Alexandria, Ind. Insolvent-The First National bank of Pembina, North Dakota, was on January 19, 1898, placed in the hands of William J. Kneeshaw, receiver. Change of Title-The Merchants and Manufacturers' National bank of Middletown, N. Y., changed to the Merchants' National bank of Middletown, January 18, 1898.
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.
