Merchants National Bank (Helena, MT)

View Charter #2732 on SPMC View balance sheet

Episode Information

Episode UID
273201123
Episode Type
Run Only
Bank Type
national
Bank ID
27320 national
Charter Number
2732
Start Date
July 27, 1893
Location
Helena, Montana (46.593, -112.036)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b931cca11dd0daaf

Response Measures

Accommodated withdrawals

Receivership Details

Depositor recovery rate
66.0%
Date receivership started
1897-06-02
Date receivership terminated
1903-06-17
OCC cause of failure
Losses
Share of assets assessed as good
37.3%
Share of assets assessed as doubtful
45.4%
Share of assets assessed as worthless
17.3%

Events (3)
1. June 14, 1882 Chartered
Source
historical_nic
2. July 27, 1893 Run
Cause
Local Banks
Cause Details
Run triggered by First National and Montana National failing to open/suspending, causing depositors to withdraw from other Helena banks.
Measures
Paid depositors promptly; officers reported they could stand the run.
Newspaper Excerpt
the run is now confined principally to the Merchants' National bank, which is paying everybody.
Source
newspapers
3. June 2, 1897 Receivership
Source
historical_nic

Newspaper Articles (10)
1. July 27, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 27, 1893

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Article Text

Two More Banks Flicker. HELENA, Mont., July 27.-The First National and Montana National banks, failed to open this morning and a run is now in progress on the other banks of the city. At 11 o'clock this morning the run is now confined principally to the Merchants' National bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but it cannot be realized. S. T. Houser is president of the First National; capital stock is $500,000; surplus, $100,000; undivided profits, $600,000, and average deposits, $3,250,000. John T. Murphy is president of the Montana National bank; capital stock is $500,000; surplus $100,000; undivided profits $100,000 and average deposits $1,500.000.

2. July 27, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 27, 1893

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Article Text

FINANCIAL FAILURES. A Run on Helena, Montana, Banks Today. HELENA, Mont., July 27.-The First National and Montana National banks failed this morning. A run is in progress on the other banks. The run is new confined principally to the Merchants' National, which claims to be able to stand. The closed

3. July 27, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, July 27, 1893

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Article Text

TWO BANKS FAIL. A Heavy Run in Progress on Other Helena Banks. By Associated Press to the News. HELENA, Mont., July 27 -The First National and Montara National banks fa led to open this morning. A run is in progress on the other banks of the city. 11 a. m.-The run is now confined principally to the Merchants' National bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets but cannot realize. S. T. Hauser is president of the First National. The capital stock is $500,000; surplus $100,000; undivided profits, $600,000 and average deposits $3,250,000. John T. Murphy is president of the Montana N tional. The capital stock is $500,000, surplus $100,000; undivided profits, $100.000, and average deposits $1,500,000.

4. July 28, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, July 28, 1893

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Article Text

THE HELENA BANKS SQUEEZED. HELENA, Mont., July 27.-The First National and the Montana National banks failed to open their doors this morning. In consequence a run on the other banks of the city quickly commenced. The two closed banks Lave ample assets, but cannot realize on them. The capital stock of the First National bank is $500,000 and it has a surplus of $100,000, undivided profits of $60,000 and deposits of $3,250,000. The Montana National also has a capital of $500,000, with a surplus of $100,000, undivided profits of $100 000- and average deposits of $1,500,000. The run on the other banks was soon confined principally to the Merchants' National bank. The depositors at this bank were paid promptly. and the officers are confident that they will be able to stand the run.

5. July 28, 1893 The Morning News Savannah, GA
Article from The Morning News, July 28, 1893

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Article Text

TWO HELENA BANKS CLOSE. The Assets of Each Largely in Excess of Their Liabilities. Helena, Mont., July 27.-The First National and Montana National banks failed to open this mornings A run is in progress on the other banks of the city. The First National Bank has assets over $1,000,000 in excess of its liabilities. The Montana Bank has $850,000 in excess of its liabilities They simply could not get currency enough to meet the demands. The Merchants' National stood a three hour's run and then received in deposits more cash than had been withdrawn. There was no run on the other banks.

6. July 28, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 28, 1893

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Article Text

Helena Banks Suspend. HELENA, Mon., July 28.-The First National bank and the Montana National bank suspended. The First National had average deposits of $3,250,000 and the Montana National $1,500,000. Both banks have ample assets and will pay in full. A run is in progress on all *the other city banks. The banks are confident they can stand any run and are paying cash promptly.

7. July 28, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 28, 1893

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Article Text

Montana Banks. HELENA, Mont., July 27.-The First National and the Montana National banks failed to open this morning. A run is now in progress on other banks of the city. 11 a. m.-The run is now confined principally to the Merchants' National bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but can not realize. S. T. Hauser is president. of the First National. The capital stock is $500,000, surplus, $100,000; undivided profits, $600, 000, and average deposits, $3,250,000. John T. Murphy is president of the Montana National. The capital stock is $500,000; surplus, $100,000; undivided profits, $100,000, and average deposits, $1,500,000.

8. August 2, 1893 Watertown Republican Watertown, WI
Article from Watertown Republican, August 2, 1893

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Article Text

TWO HELENA BANKS FAIL. Financial Crash Experienced in the Metropolis of Montana. HELENA, Mont., July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city. The run is confined principally to the Merchants' National Bank which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets but cannot realize on them. D. S. Hauser is president of the First National, The capital stock is $500,000; surplus, $100,000; undivided profits, $600,000, and deposits, $3,250,000. John I. Murphy is president of the Montana National. The capital stock is $500,000; surplus, $100,000; undivided profits, $100,000, and deposits, $1,500,000. PORTLAND, Ore., July 27.-The Oregon National Bank and the Northwest Loan and Trust Company, kindred institutions, failed to open their doors this morning. A notice on the door says: "Owing to withdrawal of deposits and the inability to realize on securities this bank is forced to suspend." MIDDLESBORO, Ky., July 27.-The First National Bank of this place closed its doors this morning. The notice upon the door reads: "This bank closed by order of directory."

9. August 3, 1893 Eagle River Review Eagle River, WI
Article from Eagle River Review, August 3, 1893

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Article Text

TWO HELENA BANKS FAIL. I Financial Crash Experienced In the Metropolis of Montana. HELENA, Mont., July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city. The run is confined principally to the Merchants' National Bank which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets but cannot realize on them. D. S. Hauser is president of the First National, The capital stock is $500,000; surplus, $100,000; undivided profits, $600,000, and deposits, $3,250,000. John I. Murphy is president of the Montana National. The capital stock is $500,000; surplus, $100,000; undivided profits, $100,000, and deposits, $1,500,000. PORTLAND, Ore., July 27.-The Oregon National Bank and the Northwest Loan and Trust Company, kindred institutions, failed to open their doors this morning. A notice on the door says: "Owing to withdrawal of deposits and the inability to realize on securities this bank is forced to suspend." Middlesboro, Ky., July 27.-The First National Bank of this place closed its doors this morning. The notice upon the door reads: "This bank closed by order of directory."

10. August 5, 1893 The Kootenai Herald Bonners Ferry, Kootenai, ID
Article from The Kootenai Herald, August 5, 1893

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Article Text

Bank Failures in Helena. HELENA, July 27.-The First National and Montana National banks suspended payment today. There was a slight run on the Merchants' National, but the funds were ample to meet it. and no other banks were troubled at all.