gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
654679acc9fd8b4b
Response Measures
Capital injected, Full suspension, Books examined
Description
Some reports say an examiner closed the bank and later a receiver handled affairs; one article links a rumor about a death near the door as precipitating the run.
Events (6)
1.February 7, 1883Chartered
Source
historical_nic
2.September 19, 1896Receivership
Newspaper Excerpt
placed its affairs in the hands of a national bank receiver. The closing of the bank was due to the fact that the depositors withdrew nearly $45,000 yesterday, exhausting all the available cash.
Source
newspapers
3.September 19, 1896Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals exhausted available cash; bank unable to convert assets into money to meet obligations.
Newspaper Excerpt
closed its doors this morning, because of a run on the bank.
Source
newspapers
4.September 19, 1896Suspension
Cause
Government Action
Cause Details
Closed by order of U.S. bank examiner/placed in charge of examiner (suspension of payments).
Newspaper Excerpt
was today closed by order of Bank Examiner Graham. A run on the bank was in progress
Source
newspapers
5.November 16, 1896Voluntary Liquidation
Source
historical_nic
6.March 10, 1897Receivership
Newspaper Excerpt
The National Bank of Troy ... began, this morning, paying depositors in full with interest to date. ... received $330,000 from comptroller Eckles as the proceeds of the sale of securities. ... The bank will not be re-organized.
A National Bank Goes Up. TROY, N. Y., September 19.-The National Bank of Troy, formerly the First National bank, of this city, closed its doors this morning, because of a run on the bank. It is now in charge of United States Bank Examiner Caa. ham. The bank's officers state that it will be able to pay depositors in full and from seventy five to ninety cents on the dollar to stockholders. Its cap. ital was $200,000. The last report of its condition was made July 14th, last, and showed surplus profits of $25,000; liabilities to individual depositors, $449,000; borrowed money, $45,000.
2.September 19, 1896Evening StarWashington, DC
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Article Text
A Troy Bank Closed. Mr. Coffin, the acting controller of the currency, has received information that the National Bank of Troy, N. Y., was today closed by order of Bank Examiner Graham. A run on the bank was in progress, and the examiner was of opinion that the best interests of all concerned would be subserved by closing. The bank has a capital of $200,000; surplus and profits, $25,000; liabilities to depositors, $449,000; borrowed money, $15,000. The only reason given for the failure is the bank's Inability to convert its assets into money to meet its obligations.
3.September 19, 1896Alexandria GazetteAlexandria, VA
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Article Text
The National Bank of Troy, N. V., formerly the First National Bank of that city, closed its doors this morning because of a run on the bank. It had a capital of $200,000. It is said the de. 1 be paid in full. positors
4.September 20, 1896Arizona RepublicanPhoenix, AZ
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Article Text
BANK SUSPENDS. TROY, N. Y., Sept. 19.-The National bank of Troy closed its doors today and was placed in charge of a National bank examiner. Heavy withdrawals is the cause.
5.September 20, 1896Richmond DispatchRichmond, VA
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Article Text
National Bank of Troy Fails. TROY, N. Y., September 19.-The Na tional Bank, of Troy, formerly the First National Bank of this city, closed its doors this morning, because of a run on the bank. and is now in charge of United States Bank-Examiner Graham. The bank officers say that it will be able to pay deposits in full, and from 75 to 90 cents on the dollar to stockholders.
6.September 20, 1896The Morning NewsSavannah, GA
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Article Text
A BANK CLOSED AT TROY. Depositors to Be Paid in Full and and Stockholders 75 Per Cent. Troy, N. Y., Sept. 19.-The National Bank of Troy, formerly the First National of this city, closed its doors this morning, because of a run on the bank, and is now in charge of United States Bank Examiner Graham. The bank's officers state that it will be able to pay depositors in full and from 75 to 90 cents on the dollar to stockholders.
7.September 20, 1896The San Francisco CallSan Francisco, CA
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Article Text
National Bank of Troy Suspends. TROY, N. Y., Sept. 19.-The National Bank of Troy, formerly the First National Bank of this city, closed its doors this morning because of a run on the bank. It is now in charge of United States Bank Commissioner Graham. The bank's officers say that it will be able to pay depositors in full and from 75 to 90 cents on the dollar to stockholders. Its capital is $ 00,000.
A Bank Fails at Troy. TROY, N. Y., Sept. 19.-The National Bank of Troy closed its doors today and placed its affairs in the hands of a national bank receiver. The closing of the bank was due to the fact that the depositors withdrew nearly $45,000 yesterday, exhausting all the available cash. Other banks here refused to furnish any assistance, and an effort to secure money in New York was also unsuccessful. The president of the bank, Daniel Clock, Jr., stated the affairs of the bank were never in better condition since 1893, but they were unable to realize cash on their paper. Every depositor, he said, would be paid in full. The capital stock was $200,000 and the deposits amounted to $439,000.
9.September 20, 1896The Roanoke Daily TimesRoanoke, VA
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Article Text
A BANK CLOSED. Washington, Sept. 19.-The acting comptroller of the currency has received information that the National Bank, of Troy, N. Y., was to-day closed by order of Bank Examiner Graham. A run on the bank was in progress and the examiner was of the opinion that the best interests of all concerned would be subserved by closing. The bank has a capital of $200,000; surplus and profits, $25,000; liabilities to depositors, $449,000; borrowed money, $15,000. The only reason given for the failure is the bank's inability to convert its assets into money to meet its obligations.
10.September 20, 1896The Norfolk VirginianNorfolk, VA
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Article Text
A Bank Closes Its Doors. Troy New York, Sept. 19.-The National Bank of Troy, formerly the First National Bank of this city, closed its doors this morning, because of a run on the bank, and is now in charge of United States Bank Examiner Graham. The bank's officers state that it will be able to pay depositors in full, and from 70 to 90 cents on the dollar to stockholders.
11.September 21, 1896The Portland Daily PressPortland, ME
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Article Text
Run on a Bauk. Troy, N. Y.,Sept. 19.-The National Bank of Troy, formerly the First National bank of this city, closed its doors this morning because of a run on the bank, and is now in charge of United States Bank Examiner Graham. The bank's officers state it will be able to pay depositors in full and from 75 to 90 cents on the dollar to stockholders. The capital is $200,000. The bank succeeded the First National bank in 1883, the latter having been organized in 1863. The run on the bank began several days ago when a prominent citizen fell dead nea r the bank's door and the rumor which was circulated that the crowd was making a run on the bank, precipitated an actual run.
A Troy Bank Fails. Troy, N. Y., Sept. 19.-The National Bank of Troy, formerly the First National bank of this city, closed its doors this morning because of a run on the bank and is now in charge of United States Bank Examiner Graham. The bank's officers state that it will be able to pay depositors in full and from 75 to 90 cents on the dollar to stockholders. The capital is $200,000. The last report of its condition, made July 14 last, showed surplus and profits to be $25,000; liabilities to individual depositors, $449,000, and borrowed money, $45,000.
13.March 10, 1897The Providence NewsProvidence, RI
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Article Text
PAID IN FULL, Depositors in a Suspended Bank Receive Their Money. Over $300,000 Received From the Sale of Its Securities. Troy, N. Y., March, 10.-The National Bank of Troy which failed several months ago, began, this morning, paying depositors in full with interest to date. National Bank Examiner Edward J. Graham, who has had charge of the establishment since it was closed, yesterday received $330,000 from comptroller Eckles as the proceeds of the sale of securities. A large crowd gathered in the vicinity of the bank this morning before the opening hour and police were stationed there to preserve order. The bank will not be re-organized.
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.
