gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
df94583dff3168af
Response Measures
Accommodated withdrawals, Partial suspension, Full suspension, Books examined
Receivership Details
Depositor recovery rate
79.5%
Date receivership started
1893-07-24
Date receivership terminated
1902-03-31
OCC cause of failure
Losses
Share of assets assessed as good
22.7%
Share of assets assessed as doubtful
39.5%
Share of assets assessed as worthless
37.8%
Description
Suspension followed heavy withdrawals after Los Angeles bank failures; later placed in receivership.
Events (5)
1.September 22, 1883Chartered
Source
historical_nic
2.June 21, 1893Run
Cause
Local Banks
Cause Details
Runs and failures in Los Angeles triggered depositor panic and heavy withdrawals in San Diego.
Measures
Several large checks were presented by anxious individuals attempting to withdraw funds; bank attempted to meet withdrawals before suspending payments.
Newspaper Excerpt
As soon as it became apparent that a run had commenced, payments were suspended.
Source
newspapers
3.June 21, 1893Suspension
Cause
Local Banks
Cause Details
Suspension attributed to financial stringency and panic following other local bank failures (Los Angeles), and consequent run.
Newspaper Excerpt
the Consolidated National bank suspended payment this morning. A notice on the door gives the usual cause, financial stringency.
Source
newspapers
4.July 24, 1893Receivership
Source
historical_nic
5.July 24, 1893Receivership
Newspaper Excerpt
Receiver O'Connor of the Consolidated National Bank ... (receiver reported and actions reported in August/September articles).
Source
newspapers
Newspaper Articles (22)
1.June 22, 1893The Indianapolis JournalIndianapolis, IN
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Bank Failures in California, Los ANGELES, Cal., June 21.-Four banks closed their doors to-day. They were the First National, Southern California, Broadway Bank and East Side Bank. All claim that the depositors will be paid in full. The failures were caused by theouspension yesterday of the State and University banks, also of this city. Depositors became frightened and wanted their money at once. The liabilities of the First National are $1,250,000; assets. 81,730,000. The other institutions are, comparatively speaking. small concerns. As a result of the Los Angeles failures the Consolidated National Bank, of San Diego, also closed its doors to-day.
2.June 22, 1893The Seattle Post-IntelligencerSeattle, WA
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CONDENSED DISPATCHES. An order was issued on June 20 for the cruiser Atlanta to return from Nicaragua, the trouble there being at an end. The business transacted at the Trans-Missouri congress at Denver on June 20 was contined to reading rules ad opted at Chicago. Those distillers fighting the whisky trust are preparing s history of that institution to aid the attorney general of Illinois to fight it. An elaborate banquet was given at the Auditorium in Chicago on June 20, in honor of Gov. Markham, of California, by Californians in "ex. ile." "The Consolidated National bank and the First National bank. of San Diego, suspended payment yesterday. Both banks are expected to resume shortly. Three privates of the Queen Victoria" Life Guards, who came to Chicago to take part in the British military touruament, have been sent to the poorhouse, owing to some misun. derstanding about their passage and their inability to take care of themselves. The conference at Pittsburg on June 20, of the joint committee of the Amalgamated Association of Iron and Steel Workers and the manu. facturers to fix a scale of wages, failed to agree, the manufacturers refusing to grant a 10 per cent advance for rolling steel. Another conference is to be held
3.June 22, 1893The Anaconda StandardAnaconda, MT
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Article Text
IN SAN DIEGO. Financial Stringency Causes the Suspen. sion of Three Banks. SAN DIEGO, Cal., June 21.-Following in the wake of the financial troubles in Los Angeles, the Consolidated National bank suspended payment this morning. A notice on the door gives the usual cause, financial stringency. and declares that the depositors will be paid. The assets are said to be much larger than the liabilities but no complete statement is now obtainable. The Savings bank of San Diego, which has an office with the Consolidated National, and which is closely related in management, suspended at the same time. The Consolidated is one of the largest, and had been considered one of the most substantial banks in town. Owing to a run. consequent upon the morning suspensions, the First National closed its doors this afternoon. It is thought to be amply able to meet all liabilities. No statement is now obtainable.
4.June 22, 1893The Daily Morning AstorianAstoria, OR
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BANK FAILURES IN LOS ANGELE. Los Angeles, Cal., June 21. The Southern California National Bank and the Los Angeles National Bank here have closed their doors. Later in the day the Broadway bank and the East Side bank closed their doors. The First National has announced that the withdrawals of the last two days exceeded $600,000. Bank Examiner Gerberding says the run on the banks is senseless, and that they are all fully solvent. The suspensions created much excitement and great crowds gathered on the streets. Runs were made upon the Farmers and Merchants' and the Los Angeles Banks. The former paid all deposits promptly, but the latter announced it would pay only small depositors, and give the larger part in cash and the remainder in certificates payable in rixty days. San Diego, June 21.-Following in the wake of the financial troubles is To Angeles, the Consolidated National Bank suspended payment this morning The Savings Bank of San Diego, which has its office with the Consolidated National, and which is closely related in management, suspended at the same time, owing to a run consequent upon the morning suspensions. The First National closed its doors this afternoon. Portsmouth, Ohio, June 21.-The Citizens' Savings Bank has failed.
5.June 22, 1893The HeraldLos Angeles, CA
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THE PANIC AT SAN DIEGO. Two Commercial and One Savings Bank N Compelled to Close Doors. z SAN DIEGO, June 21.-All of the local banks opened their doors at the usual hour this morning, and for the first half hour only an ordinary amount of business was transacted. It then became noticeable that there was to be an unusual demand from depositors for the withdrawal of their deposits. Several large checks were precented at the Consolidated National by anxious individuale who feared a run and hoped to foreetall other depositors by an early settlement of their accounts. As soon as it became apparent that a run had begun, payments were suspended at the Consolidated National and the Savings Bank of San Diego, which occupies the same building. The news that these banks had closed spread quickly about town, precipitating a run on the First National Bank of Commerce and the San Diego Savings bank. The Firet National endured the pressure until after 1 o'clock, when the doors were closed. The San Diego Savinga bank, being in the same room, it was at first supposed that it had also failed, but this proved incorrect, and the doors were opened on the demand of President Sefton and payment reenmed. The rnn on the Bank of Commerce continued till the hour of closing, but it is understood that its resources have been greatly strengthened and the announcement is officially made that it will open in the morning. The Merchants' National, a new bank recently established, has its paid up capital in cash, in addition to nearly $100,000 in deposits, and no fears are entertained of a run there. New deposits were opened there by those withdrawing elsewhere, bnt
6.June 22, 1893The Salt Lake HeraldSalt Lake City, UT
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TROUBLE AT SAN DIEGO. Three of Its Banking Houses Go to the Wall. SAN DIEGO, Cal., June 21.-Following in the wake of the financial troubles in Los Angles, the Consolidated National bank suspended payment this morning. A notice on the door gives as the reason the financial stringency and declares depositors will be paid in full. The assets are said to be much larger than the liabilities, butno complete statement is now obtainable. The savings bank of San Diego, which has an office with the Consolidated National and which is closely related in management, suspended at the same time. The Consolidated is one of the largest and had been considered the most substantial in town. Owing to a run consequent upon the morning suspensions the First National closed its doors this afternoon. It is thought to be amply able to meet all liabilities. No statement is now obtainable.
7.June 23, 1893The HeraldLos Angeles, CA
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Article Text
not available today; therefore the bank was forced to temporarily suspend. The assets exceed the liabilities by $50,000, exclusive of real estate, and the officers of the bank give ont that the assets are ample to secure all depositors. The Bank of Commerce directors reassembled after noon to consider the sitnation and at 3 o'clock decided upon a proposition which will be submitted to the depositors. Depositors aggregating over $50,000 in the bank were consulted as to the proposition which received their hearty endorsement. The directors propose to reopen and pay 10 per cent of all deposits demanded on resumption, 10 per cent in 30 days; 10 per cent in 60 daye ; 20 per cent in 90 days; 25 per cent in 120, and the remaining 25 per cent in 150 days. WASHINGTON, June 22.-Comptroller Eckles has appointed Frederick N. Pauley temporary national bank examiner and placed him in charge of the Firat National bank and the Consolidated National bank of San Diego, Cal., which closed down yeaterday.
8.June 29, 1893Wood County ReporterWisconsin Rapids, WI
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Article Text
STRAY SPARKS. The contest for army rifle prizes will take place Sept. 18, this year, at Fort Sheridan, III. So ends a celebrated case. It is announced that the Wanamaker suit on behalf of the stockholders for an injunction to close the fair will be pushed; but inasmuch as the supposed equities of that case are virtually merged in the decision just rendered the The announcement is unimportant. fair will be open on all Sundays up to and including Oct., 29. The Consolidated National bank or San Diego, Cal., has suspended payment and the First National, Broadway and East Side banks are also closed. Fire destroyed the Bunnell block, Duluth, early yesterday morning and four dead human bodies have already been found in the ruin. The Duke of Veragua has written a letter to Secretary Gresham taking leave of the United States and expressing gratitude to congress and the people.
9.June 30, 1893The Hawaiian StarHonolulu, HI
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NATIONAL BANKS SUSPENDED. Two Failures at San Diego, but No Fears of More Trouble. SAN DIEGO, June 21.-All of the local banks opened their doors at the usual hour this morning, and for the first half hour only an ordinary amount of business was transacted. It then became noticeable that there was to be an unusual demand from depositors. Several large checks were presented at the Consolidated National by anxious individuals who feared a run and hoped to forestall other depositors. As soon as it became apparent that a run had commenced, payments were suspended. The news that these banks had closed spread quickly about town, pre cipitating a run on the First National, the Bank of Commerce and the Savings Bank. The First National endured the pressure until after I o'clock, when the doors were closed. The San Diego Savings Bank being in the same room, it was at first sup posed that it had also failed, but this proved incorrect, and the doors were opened on the demand of President Sefton and payment resumed. The run on the Bank of Commerce continued till the hour of closing. It is understood that its resources have been greatly strengthened, and the announcement is officially made that it will open in the morning. The Merchants' National, a bank recently, established, has its paid up capital in cash, in addition to nearly $100,000 in deposits, and no fears are entertained. New accounts were opened there by those withdrawing elsewhere, but general confidence is felt that there will be no further trouble here. The announcement is made that the banks which have suspended will pay the depositors in full, but no statement of the actual assets and liabilities can be secured.
10.June 30, 1893Iowa County DemocratMineral Point, WI
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STRAY SPARKS. The contest for army rifle prizes will take place Sept. 18, this year, at Fort Sheridan, III. So ends a celebrated case. It is announced that the Wanamaker suit on behalf of the stockholders for an injunction to close the fair will be pushed; but inasmuch as the supposed equities of that case are virtually merged in the decision just rendered the The announcement is unimportant. fair will be open on all Sundays up to and including Oct., 29. The Consolidated National bank or San Diego, Cal., has suspended payment and the First National, Broadway and East Side banks are also closeì. Fire destroyed the Bunnel block, Duluth, early yesterday morning and four dead human bodies have already been found in the ruin. The Duke of Veragua has written a letter to Secretary Gresham taking leave of the United States and expressing gratitude to congress and the people.
11.July 1, 1893The Dalles Times-MountaineerDalles, OR
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Easier Feeling in San Diego. SAN DIEGO, Cal., June 26 -Throughout the bank p&nic* which began here last Wednesday, the Bank of Commerce, of which Dr. R. M Powers is president, has been conducted in a way to steadily hold the lead in public confidence. This morning there was quiet rejoicing throughout the city on finding that its doors, which had been closed but three days, were again open and busine-s proceeding as usual. The first 15 minutes deposits of over $3000 were received and only about $100 paid out, and there were more deposits all through the day. than drawings of cash. F. N Pauly, whose instructions from Comptroller Eckles were to take possession of the two national banks, yesterday received instructions to examine and report as speedily as possible. He is now at work in the First National, and will be ready in two or three days to examine the Consolidated National.
12.August 23, 1893The Morning CallSan Francisco, CA
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CONSOLIDATED NATIONAL. Appearances Point to an Early Resumption of Business. SAN DIEGO, Aug. 22.-Pec-iver O'Connor of the Consolidated National Bank has practically completed his report, which will be forwarded to Comptroller Eckels this week. Instructions regarding the resumption of payment are expected from the Comptroiler immediately after the receipt of the report. It waslearned to-day from persons whose po-
13.August 27, 1893The Morning CallSan Francisco, CA
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San Diego Consolidated Bank. SAN DIEGO, Aug. 26.-The receivers report that the condition of the Consolidated National Bank was not forwarded as expected this week, Receiver O'Connor finding many details to examine and also wishing to go over certain affairs with Major Levi Chase, one of the leading stockholders. The report will be ready early next week. Favorable indications for early resumption continue. and nothing has transpired to cause delay after the terms of the Comptroller became known.
14.September 10, 1893The Morning CallSan Francisco, CA
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BANK PRESIDENT HOWARD. He Does Not Deny the Charges Made Against Him. SAN DIEGO, Sept. 9. -The San DieganSun this evening contains an interview with Bryant Howard, President of the Consolidated Bank, with reference to the charge published yesterday that he has been addicted to the use of opium, and that that was the principal cause of the bank's failure. Mr. Howard returned from San Francisco last night. He saw the original charge yesterday in the prese dispatches. He does not specifically deny the charge. He only says: "There are many statements made that are wholly untrue, or have but a slight foundation." avoids reference to the charge as to bank affairs. He admits that circumstances compelled certain transactions which may not have been exactly regular, but which were necessary. Mr. Howard is visibly affected in mind and appearance by his troubles. The hope of resumption is abandoned. Three shipments of cash have been sent by Receiver O'Connor of the Consolidated National Bank to the sub-treasury at San Francisco, payable to the United States treasurer, swelling the total to a round $100,000. There is little doubt but that more than 20 per cent of the dividend of about $128,000, payable in about sixty days, will be on hand. Receiver O'Connor leaves to-morrow morning for his home at La Salle, III., to return with his family about October 1. Major Levi Chase, who has acted as confidential adviser of the receiver, will be in charge of affairs during the latter's absence.
15.May 25, 1895The HeraldLos Angeles, CA
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Attorney James E. Wadham of San Diego arrived in this city yesterday and the will was filed for probate. As stated, it was found by Receiver O'Connor of the Consolidated National bank of San Diego, among some old papers.
When asked about the finding of the will Mr. Monroe, an associate of Senator White, stated that he knew nothing about it except what had been published in the newspapers. He knew nothing of the contents, or what disposition would be made of it. Mr. Monroe stated that the heirs had made a thorough search for a will at the time of the governor's death
16.November 8, 1895The Salt Lake HeraldSalt Lake City, UT
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AN ADMIRER OF ALTGELD. CHICAGO, Nov. 7.-A special from Washington to the Daily News says: Ex-Senator Andy O'Connor, formerly of Ottawa, is in Washington to report as receiver of the Consolidated National bank of San Diego. He was appointed to this receivership by his former law
17.November 8, 1895Omaha Daily BeeOmaha, NE
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Believes the Silver Issue Dead. CHICAGO, Nov. 7.-A special from Washington to the Daily News says: Ex-Senator "Andy" O'Connor, formerly of Ottawa, is in Washington to report as receiver of the Consolidated National bank of San Diego. "I am willing to concede that the silver issue was killed by the elections Tuesday," said the ex-senator, "but I still retain my admiration for Governor Altgeld for his bluff and outspoken way. He is seldom wrong in any position he assumes."
18.March 22, 1896The HeraldLos Angeles, CA
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To Foreclose a Mortgage A suit was filed in the United States district court yesterday by O. Pooley, receiver of the Consolidated National bank of San Diego, against Juan M. Lugo and others, to foreclose a mortgage securing a note for $8000. The suit was first instituted in the superior court of San Diego county, but as Lugo is the Chilean consul, it was necessary to transfer it to the federal court.
19.November 29, 1898The HeraldLos Angeles, CA
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San Diego Doctor Dead SAN DIEGO, Nov. 28.-Andrew. O'Conor, formerly a prominent citizen of La Salle, III., died in this city tonight. Mr. O'Conor came to San Diego five years ago and engaged in the practice of law, and has been receiver of the Consolidatd National and California banks here.
20.November 29, 1898The Record-UnionSacramento, CA
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# Death of a San Diego Citizen.
SAN DIEGO, Nov. 28.-Andrew J. O'Conor, formerly a prominent citizen of La Salle, Ill., died in this city tonight. Mr. O'Conor came to San Diego five years ago and engaged in the practice of law, and had been receiver of the Consolidated National and California Banks here.
21.December 11, 1898The HeraldLos Angeles, CA
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National Bank Changes According to the latest bulletin of the Comptroller of the Currency, of date Dec. 5, 1898, the following changes have taken place: INSOLVENT The Consolidated National bank of San Diego, Cal. William J. Cook appointed receiver in place of Andrew J. O'Conor, deceased, to take effect Nov. 29, 1898. The California National bank of San Diego, Cal. William J. Cook appointed receiver in place of Andrew J. O'Conor, deceased, to take effect Nov. 29, 1893.
22.February 5, 1906Los Angeles HeraldLos Angeles, CA
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BANK RECEIVER HALE DIES Word of His Demise Reaches San Diego From Aurora, Illinois Special to The Herald. SAN DIEGO, Feb. 4.-Word was received today of the death at Aurora, III., of Charles H. Hale, formerly receiver of the consolidated national bank of this city, the business of which he closed up about two years ago. He leaves a widow and two daughters. Trial will be resumed today.
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.
