gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
97dfe02039a9a691
Response Measures
Full suspension, Books examined
Receivership Details
Depositor recovery rate
96.6%
Date receivership started
1887-11-15
Date receivership terminated
1901-06-10
OCC cause of failure
Excessive lending
Share of assets assessed as good
36.9%
Share of assets assessed as doubtful
59.1%
Share of assets assessed as worthless
3.9%
Description
Cashier indicted for false entries and directors reported heavily indebted; receiver appointed 1887-11-15.
Events (5)
1.December 12, 1882Chartered
Source
historical_nic
2.November 7, 1887Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals triggered by the failure of Rosenthal & Co. and large indebtedness of a director to the bank
Measures
Closed doors to realize securities held by the institution
Newspaper Excerpt
There was a run on the bank this morning which resulted in the closing
Source
newspapers
3.November 7, 1887Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed after a heavy run and to realize on securities because of exposure to failed firm and indebted directors
Newspaper Excerpt
The Fifth National Bank closed its doors at 1:15 P. M. to-day.
Source
newspapers
4.November 15, 1887Receivership
Source
historical_nic
5.November 15, 1887Receivership
Newspaper Excerpt
The Comptroller of the Currency has appointed Lon V. Stephens receiver for the Fifth National Bank of St. Louis.
Source
newspapers
Newspaper Articles (22)
1.June 24, 1887Los Angeles Daily HeraldLos Angeles, CA
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Article Text
EASTERN NEWS. e The Fidelity Bank in Government Hands. CHICAGO DERBY COMPETITORS Precautionary Measures to Prevent Pleuro-Prieumonia Among Cattle. Associated Press Dispatches to the HEBALD CINCINNATI, June 23.-Hon. W.L. Trenholm, Comptroller of Currency, who arrived hereto.day and took charge of the Fidelity National Bank, was interviewed this morning regarding its affairs. His suspicions had first been aroused in April last, when he discovered the Fidelity had "reserve accounts" of eighty country banks and its indebtedness to other banks was very large. When notice of the apparent connection of the bank with the Chicawheat deal was first given in the press the local examiner was directed to remain in Cincinnati and be ready to act. This was done when the checks were protested in New York. The receiver has not been appointed, but will be by Treholm. No definite statement of the bank's affairs can be made until after the receiver takes charge. The Gov. ernment had acted as soon as there was tangible evidence of wrong doing. The sensational feature of to-day's proceedings was the surrender late this afternoon of E. L. Harper and E. Hopkins by their bondsmen. Desperate efforts had been made by them to-night to get new bondsmen, but at a late hour they were unsuccessful. LATEST NEWS. Harper and Hopkins being unable to get bondsmen, went to jail about midnight. A ST. LOUIS DEBT. ST. LOUIS, June 23.-The funds in the Fifth National Bank of this city, belonging to the Fidelity Bank of Cincionati, were garnisheed to-day at the instance of the Union National Bank of Cleveland, to satisfy a debt of $25,000. ARREST NOT ORDERED. WASHINGTON, June 23.-At the office of the Comptroller of the Currency it is said no instructions have been sent to Cincinnati for the arrest of the officers of the Fidelity National Bank, beyond the general instructions sent to the examiner there to take every precaution to prevent the escape of any officers who may be criminally guilty. WILSHIRE ARRESTED. This evening J. W. Wilshire, the broker who took the checks of the Fidelity Bank to Chicago to try to hold up the market, was also arrested, charged with aiding the wilful and unlaful misapplication of the funds of the bank. He gave bond in $35,000.
NATIONAL ANK SUSPENDS. A Big Run Causes It to Close Its Doors. Bad Management. Sr. LOUIS Nov. 7.-The Fifth National Bank clcsed its doors at 1:15 P. M. tc-day. T. B. Rosenthal, Joseph Specht and Marcus Wolffe are directors of the bank. The latter has brought two suite of attachment against T. B. Rosenthal, aggregating $71,000, and it is thought that Rosenthal was indebted to the bank to n considerable amount. The bank is situated at 700 North Broadway, and had a capital stock of $390,000. The usual deposita amounted to about $400,000. On Friday they had to meet a heavy. run, and 89 the depositora continned to withdraw their funds to-day the bank closed its doors A few minute before 1 o'clock. Henry Overstoltz, former Mayor of this city, is President, and O.C. Crecelius is Cashier. The President of the bank has been sick ior some time and the management has been entirely in the hands of the directore, some of whom now appear to be quite heavily indebted to the bank.
3.November 8, 1887The Morning NewsSavannah, GA
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Article Text
A ST. LOUIS BANK CLOSED. Directors Heavily Indebted to the Institution. ST. LOUIS, Nov. -The Fifth National Bank of this city closed its doors to-day. It had a capital of $325,000 and usually carried about $1,130,000 in deposits. A run upon it had been in progress since Friday. Henry Overstoltz, former Mayor of the city, was President, and C. C. Crecilus cashier. The President has been sick for some time, and the management has been entirely in the hands of the directors, some of whom now appear to be quite heavily indebted to the bank. The failure affects several firms in this city to some degree, and three concerns whose names have not transpired, are reported to be crippled. It is claimed that depositors will be paid in full.
4.November 8, 1887Telegram-HeraldGrand Rapids, MI
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Article Text
A St. Louis Bank Embarrassed. Sr. LOUIS, Nov. 7.-The rumored closing of the doors of the Fifth National bank are verified. There was a run on the bank this morning which resulted in the closing until securi" ties held by the institution could be realized on. The immediate cause of the crash is supposed to be the recent failure of the wholesale millinery establishment of Rosenthat & Co. last week, I. B. Rosentnal being one of the directors of the Fifth National Bank. The bank is believed to be heavily involved. Its capital stock was $500,000, and deposits are upwards of $1,000,000.
5.November 8, 1887St. Paul Daily GlobeSaint Paul, MN
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Article Text
A St. Louis Bank Fails. Special to the Globe. ST. LOUIS, Nov. 7.-The rumored closing of the doors of the Fifth National bank is verified. There was a run on the bank this morning which resulted in the closing until securities held by the institution could be realized on. The immediate cause of the crash is supposed to be the recent failure of the wholesale millinery establishment of Rosenthal & Co. last week, J. B. Rosenthal being one of the directors of the Fifth National bank.
6.November 9, 1887Press and Daily DakotaianYankton, SD
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Article Text
DEPOSITS OVER.A MILLION AND THE CAPITAL STOCK HALF A MILLION DOLLARS. The Fifth National Bank, of St. Louis, in Sympathy With One of Its Ruined Directors, Is Forced to Close Its Doors to Realize on Securities. ST. LOUIS, Mo., Nov. 8. -The rumored closing of the doors of the Fifth National bank are verified. There was a run on the bank Monday morning, which resulted in the closing until the securities held by the institution could be realized on. The immediate cause of the crash is supposed to be the failure of the wholesale millinery firm of Rosenthal & Co., last week. J. B. Rosenthal being one of the directors of the Fifth National bank, the bank is believed to be heavily involved The capital stock of the bank was $500,000 and the deposits areupward of one million.
7.November 9, 1887Evening StarWashington, DC
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Article Text
The national bank examiner has taken charge of the allairs of the suspended Futh National Bank of St. Luuis. He says the depositors will be paid in rud and stockhoiders will realize about seventy per cent.
8.November 10, 1887The Portland Daily PressPortland, ME
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Article Text
GENERAL NEWS. The Nashville flour factary has assigned. Assets valued at $64,175; liabilities, $55,328. The St. Louis Planing Mill Company has failed on account of the collapse of the Fifth National Bank. Cashier C. C. Crecilius, of the St. Louis Fifth National Bank, which is embarrassed, has been arrested for making false entries to a large amount. The recent conference of Provincial ministers adopted resolutions in favor of reciprocity, declaring that it would not lessen Canada's loyalty to the mother country. Congressman Geo. D. Wise and Editor Wm. H. Mullen, of ther Labor Herald, had an encounter on the streets of Richmond yesterday, and were fined in the police court to-day. E. F. Searles, who is reported to have married Mrs. Mark Hopkins, the possessor of $20,000,000, is 45 years old. He belonged to a New York firm of house furnishers and has done a great deal of work for Mrs. Hopkins. President King, of the Erie Railroad, received a threatening letter Tuesday signed "A Desperate Devil," and threatening violence unless five hundred dollars were given up. Detectives have afrested a crank named Campbell.
ANOTHER BANK FAILURE. The Fifth National Bank of St. Louis Closes Its Doors. ST. LOUIS, Nov. 9.-The rumored closing of the doors of the Fifth National bank is verified. There was a run on the bank in the morning which resulted in the closing until securities held by the institution could be realized on. The immediate cause of the crash is supposed to be the recent failure of the wholesale millinery establishment of Rosenthal & Co. last week, J. B. Rosenthal being one of the directors of the Fifth National bank.
10.November 15, 1887Evening StarWashington, DC
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Article Text
RECEIVER FOR THE ST. LOUIS BANK.-The Controiler of the Currency has appointed Lon V. Stephens receiver for the Fifth National Bank or St. Louis.
11.November 16, 1887Los Angeles Daily HeraldLos Angeles, CA
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Article Text
Crecitus Indicted. ST. LOUIS, November 15.-T. Stephens, of Boonville, Mo., was appointed Receiver of the Fifth National Bank to-day. It is reported that the Grand Jury has found an indictment of making false entries against Cashier Crecitus.
12.November 16, 1887The Salt Lake HeraldSalt Lake City, UT
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Article Text
Cashier Crecilus. ST. Louis, November 15. - Tene Stephens, of Boonville, Mo., was appointed receiver of the Fifth National Bank, this morning. It is reported that the grand jury has found an indictment of making false entries against Cashier Crecilus.
13.November 18, 1887The Hot Springs StarHot Springs, SD
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Article Text
A St. Louis Bank Failure ST. Lovis, Nov. 9 -The Fifth National bank closed Monday. Marcus Woiffe has or ught two suits of attachment against I. B. Resenthal agerezating $71,000. Both are oi. sectors of tuebauk. it la thought that Ros eathal is indebted to the bauk to a large amount. The back had a capital stock 01 $390,000. Deposits amounted to $1,13,000; securities, $1,500,000; stock, $325,000; surplus, $45,000. On Frday It had to meet a heav, run, and, as the depositors continu to draw their funds Saturday, the bank closed its door. Ex-Mayor Heary Over-toz is PUS dent and C. C. Crecellas, cashier. The failure affects several items, and three are traid to we crippled. In if claim d that depositora will be paid in full.
14.November 19, 1887The IntelligencerLexington, MO
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Article Text
Col. Lon V. Stephens, of Boonville, has been appointed receiver of the Fifth National Bank of St. Louis. -
15.November 30, 1887Daily Kennebec JournalAugusta, ME
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Bank President Dies. ST. LOUIS, Nov. 29. Ex-Mayor Henry Overstaltz, president of the defunct Fifth National bank. died this forenoon of heart trouble. He did not know the bank had suspended.
16.November 30, 1887The Morning NewsSavannah, GA
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Death of an Ex-Mayor. ST. LOUIS, Nov. 29.-Henry Overstoltz, President of the insolvent Fifth National Bank and ex-Mayor, died this morning of heart disease. He did not know that the bank had suspended. The flags of the City Hall were put at half mast.
17.November 30, 1887St. Paul Daily GlobeSaint Paul, MN
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Henry Overstoltz Dead. ST. LOUIS, Nov. 29.-Henry Overstoltz, president of the defunct Fifth National bank and ex-mayor, died this morning at 6 o'clock of heart trouble. He did not know the bank had suspended. The flags of the city have been ordered at half mast.
18.November 30, 1887The Memphis AppealMemphis, TN
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Hery Overstoltz, president of the defunct Fifth National bank and ex-mayor of St. Louis, died yesterday morning at 6 o'clock of heart trouble. He did not know the bank had suspended. The flags of the city have been ordered at half mast.
19.November 30, 1887The Salt Lake HeraldSalt Lake City, UT
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Died in Ignorance. ST. LOUIS, November 29.-Henry Overstoltz, president of the defunct Fifth National Bank, and ex-mayor, died this morning of heart trouble. He did not know the bank had suspended. The flags of the city have been ordered at half-mast.
20.December 3, 1887Great Falls TribuneGreat Falls, MT
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An Ex-Mayor Dead. SAINT LOUIS, December 1.-Henry Ogerstalz, president of the defunct Fifth National Bank, and ex-mayor, died this morning of heart disease. He did not know the bank had suspended. The flags of the city have been ordered at half mast in his honor.
21.March 15, 1890The IntelligencerLexington, MO
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Mr. Stephens, the new state treasurer, has telegraphed to the comptroller of the currency at Washington. his resignation as receiver of the Fifth National Bank of St Lonis.
22.September 8, 1891Los Angeles HeraldLos Angeles, CA
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Bank Directors Sued. ST. LOUIS, Sept. 7.-The receiver of the Fifth National bank has brought suit in the United States court against
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.
