gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5941355d6a1ad42c
Response Measures
None
Description
Closed by the Idaho state bank examiner and placed in receivership; later dividends paid by receiver.
Events (4)
1.May 12, 1911Run
Cause
Bank Specific Adverse Info
Cause Details
Reports of O'Neil's heavy Wall Street losses and alleged connections to Carnegie Trust failure prompted withdrawals and a crowd at the bank.
Measures
Bank officials and other local bankers reassured depositors; run was stopped after assurances.
Newspaper Excerpt
A big crowd gathered around the building waiting for a chance to withdraw deposits...the run was stopped.
Source
newspapers
2.May 12, 1911Suspension
Cause
Government Action
Cause Details
Closed by the Idaho state bank examiner following the bank's difficulties and speculations by its president.
Newspaper Excerpt
The State Bank of Commerce ... was closed by the Idaho state bank examiner Saturday morning.
Source
newspapers
3.May 15, 1911Receivership
Newspaper Excerpt
appointed receiver for the defunct State Bank of Commerce ... receiver of the defunct State Bank of Commerce ... retired as receiver and left for Boise later (shows receiver appointed after closing).
Source
newspapers
4.September 25, 1912Other
Newspaper Excerpt
L. C. Wilson, receiver ... paid a dividend of 42 per cent on September 25.
Source
newspapers
Newspaper Articles (22)
1.May 18, 1911Elk City Mining NewsElk City, Red River Hot Springs, Red River, Newsome, Dixie, Buffalo Hump, Buffalo, Crooked River, ID
Click image to open full size in new tab
Article Text
BARNEYO'NEIL'S BANK SUSPENDS Prominent Wallace Institution Fails. The State Bank of Commerce of Wallace, Idaho, of which Barney O'Neil is president and chief stockholder, was closed by the Idaho state bank examiner Saturday morning. No definite statement was given out by either the examiner or bank officials, but it is understood unfortunate speculations indulged in by Mr. O'Neil led to the order. O'Neil is said to have lost large sums of money in Wall street within the last few weeks. His investment in the Inland Herald, his unsuccessful campaign for the gubernatorial nomination and the recent failure of the Carnegie Trust company, following Andrew Carnegie's re-. pudiation of the use of his name, it is declared have all made serious inroads on the O'Neil fortune. The State Bank of Commerce was capitalized for $100,000. It was the second bank in Wallace, We are headquarters for everything good to eat. O. C. Lapp Co.
2.May 18, 1911Mountain Home MaverickMountain Home, ID
Click image to open full size in new tab
Article Text
name, it is declared, have all made serious on the O'Neil fortune. The Wallace bank had connections with almost if not all the Spokane banking institutions, but these were of small importance and will not seriously affect the local banks. The State Bank of Commerce was capitalized for $100,000. It was the second bank in Wallace. The officers were B. F. O'Neil, president; T. L. Greenough of Missoula, vice-president; Edgar S. Wlman, Wallace, eashier; Carry C. Burke, Wallace, assistant cashier. Directors, other than Messrs. O'Neil and Greenough, were E. R. Day of Wallace, Ewen McIntosh of Kellogg and Stanley Easton, manager of the Bunker Hill and Sullivan mine. The bank opened as usual this morning, but was closed a short time afterward by the bank examiner. A big crowd gathered around the building waiting for a chance to withdraw deposits. The First National bank and the Wallace National are absolutely prepared for any run. President White of the First National showed visitors $700,000 in cash in the vaults of the bank. There is a large amount in the valuts of the Wallace National and much more money coming from Missoula. The Lane Lumber company plant at Harrison, in which O'Neil is heavily interested, was closed down about a week ago and the 80 men employed were discharged. At the time of the failure of the Carnegie Trust company the report that O'Neil had been interested and had lost a large sum started a run on the Wallace bank. In the interview however, O'Neil denied that he had lost anything and on the assurance of other bankers, who stated they believed the O'Neill institution to be in sound condition, the run was stopped.
3.May 19, 1911Camas Prairie ChronicleCottonwood, ID
Click image to open full size in new tab
Article Text
) Barney O'Neil's Bank Suspends. The State Bank of Commerce of Wallace, Idaho, of which Barney O'Neil is president and chief stockholder, was closed by the Idaho state bank examiner last Friday morning. No definite statement was given out by either the examiner or bank officials, but it is understood unfortunate speculations indulged in by Mr. O'Neil led to the order. O'Neil is said to have lost large sums of money in Wall street within the last few weeks. His investment in the Inland Herald, his unsuccessful campaign for the gubernatorial nomination and the recent failure of the Carnegie Trust company, following Andrew Carnegie's repudiation of the use of his name, it is declared, have all made serious inroads on the O'Neil fortune. The State Bank of Commerce was capitalized for $100,000. It was the second bank in Wallace.
4.July 16, 1911The Daily MissoulianMissoula, MT
Click image to open full size in new tab
Article Text
Forty-Bushel Wheat. In the Chestnut valley, near Cascade, there are several farmers claiming wheat that will yield more than a 40-bushel average and their former crops give color of truth to their statements. Herbert W. Brown, cashier of the First National bank at Cascade, says there has never been as heavy wheat crop in that section of Montana. TO PAY LIABILITIES. ! Wallace, July 15.-(Special)-W. O. Pierce, deputy state bank examiner and receiver of the defunct State Bank of Commerce of this city today retired as receiver and left for Boise. L. C. Willson, former cashier of the Wallace National bank, has been appointed to succeed Mr. Pierce. Mr. Pierce announced today that Mr. Willson in all probability would be able to declare and pay a dividend of 15 per cent on the bank's liabilities Monday morning. The State Bank of Commerce, of which B. F. O'Neal was president and principal stockholder, closed its doors more than two months ago following the failures of the Lane Lumber company, the Inland Herald of Spokane and the Carniege Trust company.
5.August 27, 1911The Daily MissoulianMissoula, MT
Click image to open full size in new tab
Article Text
GRAND JURY IN WALLACE. Spokane, Aug. 26.-For the first time in several years a grand jury has been called to meet at Wallace September 8. It is understood the jury is to investigate charges made as to the management of the State Bank of Commerce of Wallace, which failed May 12, and also the affairs of the Lane Lumber company, which was closely connected with the bank and is now in the hands of a receiver,
6.August 27, 1911The Salt Lake TribuneSalt Lake City, UT
Click image to open full size in new tab
Article Text
Grand Jury Called. By Associated Press. SPOKANE. Wash., Aug. 38.-For the first time in seven years a grand jury has been called to meet at Wallace, Ida. September 18. It Is understood the jury is to investigate charges made as to the management of the State Bank of Commerce at Wallace, which failed May 12, and also the affairs of the Lane Lumber company, which was closely connected with the bank and is now in the hands of a receiver.
7.August 27, 1911The Cairo BulletinCairo, IL
Click image to open full size in new tab
Article Text
To Probe Bank Failure. Spokane, Wash.. Aug. 26.- For the first time in seven years a Grand Jury has been called at Wallace, Ida., Sept. 18. It is understood the jury is to investigate charges made as to the management of the State Bank of Commerce of Wallace which failed May 12 and also the affairs of the Lane Lumber Co., which fell into the hands of a receiver.
8.September 14, 1911The Wallace MinerWallace, Kellogg, ID
Click image to open full size in new tab
Article Text
Notice of Postponement. Notice is hereby given that the above mentioned sale is hereby postponed until September 16, A. D. 1911, at the same hour and place above described. L.C. WILSON, Receiver State Bank of Commerce, Wallace, Idaho. Sept. 7-14.
9.September 14, 1911The Wallace MinerWallace, Kellogg, ID
Click image to open full size in new tab
Article Text
# ALIAS SUMMONS.
In the District Court of the First Judicial
District of the State of Idaho, in and for
the County of Shoshone.
L. C. Wilson, Receiver of the State
Bank of Commerce of Wallace, Idaho,
plaintiff, vs. Richard Daxon and Norman
Ebbley, defendants.
THE STATE OF IDAHO:
To Richard Daxon and Norman Ebb-
Wallace, Oct. 4.-(Special.)-One of the biggest sensations in connection with the indictments growing out of the State Bank of Commerce failure was sprung late tonight when it was given out that a true bill had been found against William O. Pierce, assistant state bank examiner and recelver for the bank by virtue of appointment made by District Judge Woods of Shoshone county a few days after the bank closed its doors, May 12. The indictment charges Pierce with the embezzlement of $1,300 of the bank's funds, while acting as receiver. From a reliable source outside of official circles, it is alleged that when the bonding company back of Acting Receiver Pierce discovered the shortage and the demand for restitution was made, he gave a check on the National
11.January 13, 1912The Tacoma TimesTacoma, WA
Click image to open full size in new tab
Article Text
TELEGRAPH TABLOIDS HELSINGFORS, Finland. ublic indignation runs high toagainst the latest edict from Petersburg that Russia shall eceive from Finland contribuof horses and transport for Russian army. STOCKHOLM-'Equal rights" the women of Sweden is bepushed forward energetically the enactment of a suffrage is believed to be assured as result of the recent liberal elecvictories. WALLACE, Ida.-Three more dictments in connection with the ailure of the State Bank of Comhere have been returned the special grand jury investithe bank's affairs, increasthe list to five. The names of hose indicted are kept secret. EVERETT. Wash.-Pricked by onscience and now knowing the of those whom he had cussed," H. W. Welty, an exman, inserted the following dvertisement in a local newspa"I confess I used harsh lanto a man and two boys in automobile, for which I humbly their pardon." ATHENA, Ore-Mabel Belis suing "Prof." Matuska, itinerant musician, for $50, the she paid for vocal instrucHe told her to roll on the while practicing the scale she would develop into a ongstress of class. She did and no improvement. COLTON, Cal.-The bodies of uan Garcia and Porfirio Cortez buried here today beneath undreds of tons of earth and ocks as the result of a blast at he California-Portland cement near Colton. PORTLAND, Ore-The most nique political organization in regon made its bow to the pubtoday as the "Men's Equal uffrage club," with W. M. Davis its president. The club was rganized for the purpose of seuring the ballot for the women Oregon. SEATTLE-Rev. John C. Bakfounder of the Pacific Baptist, he first and only Baptist publion the coast, is dead here, 84. He was the first general nissionary for the Pacific coast. CHICO, Cal-Because his dog refused to retrieve a quail, S. D. Arney, a local merchant, beat him vith his gun stock. The gun off and Arney is in a hospiand will probably die. WASHINGTON, D. C.-Charles Morse, New York banker-conwas transferred from the Fort McPherson army hospital esterday to the army hospital at Iot Springs, Ark., where he will treated to restore his health. WILKESBARRE, Pa-So many eople voted for John J. McDevitt, son of a day laborer, as a oke that he was nominated for ounty treasurer and the county epublican committee had to pay $2,500 to get him to withfrom the ticket. He hired special train and left for New York to prove that a fool and his noney are soon parted.
12.February 22, 1912The Wallace MinerWallace, Kellogg, ID
Click image to open full size in new tab
Article Text
The above sale is hereby postponed until March 2, 1912, at the same hour and place.
L. C. WILSON,
Receiver of the State Bank of Commerce of Wallace, Idaho. F22-29-2t
13.April 4, 1912Clearwater RepublicanOrofino, ID
Click image to open full size in new tab
Article Text
CASHIER ALONE GUILTY OF FAULTY BOOKKEEPING. Vancouver, B. C., March 30.-B. F. O'Neil, former Idaho banker, who is resisting extradition, took the stand today and testified that imperfect bookkeeping by the cashier of the defunct State Bank of Commerce of Wallace was responsible for making it appear that money taken by O'Neil was not properly his own. Mr. O'Neil said that he had every reason to believe, up to the day the bank suspended, that it could tide over its difficulties, as he always understood that the Day brothers, who were wealthy mining men, would see it through. In connection with the Lane Lumber company, which had an overdraft of about $130,000 from the bank, he said, Mr. Wall, one of the directors, had gone to New York to float a bond issue, but just at that time the great Coeur d'Alene forest fires occurred and it was impossible to float a timber bond of any kind. Finding the bank in difficulties, he said, he himself had turned over to assist it ten sections of timber in Preston, B. C., which he valued at $100,000 to $200,000. He had turned in city property valued at from $5,000 to $6,000 and mining stock and bonds worth anywhere from $20,000 to $40,000. He had also turned over 46,000 acres of irrigated land on Spokane prairie. This left him "broke" and he had to borrow money to get out of Wallace. "In 1909 and 1910 I believed myself to be worth in equities and asgets about $700,000," said Mr. O'Neil, "all of which is gone."
14.April 11, 1912Elk City Mining NewsElk City, Red River Hot Springs, Red River, Newsome, Dixie, Buffalo Hump, Buffalo, Crooked River, ID
Click image to open full size in new tab
Article Text
BARNEY O'NEIL TESTIFIES.
Lays Blame for Wallace Bank Troubles
on Others.
Vancouver, B. C. -For three hours Saturday B. F. O'Neil occupied the stand in Judge Grant's court and detailed the cause and effect of the suspension of the State Bank of Commerce of Wallace, Idaho, of which he was president. O'Neil is now resisting extradition to Idaho on charges connected with the failure of the bank.
O'Neil was permitted to deviate often from the strict rules of evidence and go into the byways of the case, including his financial ventures. When he finished his narrative and had undergone a short cross-examination at the hands of Attorney Farris Attorney Taylor was confident O'Neil would not go back to Idaho.
O'Neil's testimony related principally to his connection with the Day brothers and Cashier Wyman. To the former he ascribed the suspension of the bank, claiming that it was their failure to come forward according to promise and aid the institution after a campaign had been started against it by rivals. He said that the desertion of the Days came immediately after a series of financial disasters, brought on by the forest fires of Idaho and the suspension of the Carnegie Trust company.
15.April 11, 1912The Wallace MinerWallace, Kellogg, ID
Click image to open full size in new tab
Article Text
Notice of Postponement. Notice is hereby given that the above sale is hereby postponed until Wednesday the 1st day of May, A. D. 1912, at 10 o'clock a. m. at the same place above described. L. C. WILSON, Receiver of the State Bank of Commerec, Wallace, Idaho. Apr 11-25-3t
16.July 18, 1912The Wallace MinerWallace, Kellogg, ID
Click image to open full size in new tab
Article Text
lace. Shoshone county, state of Idaho. L. C. WILSON, Receiver State Bank of Commerce of Je27-Jy18-4t Wallace, Idaho.
17.September 26, 1912Clearwater RepublicanOrofino, ID
Click image to open full size in new tab
Article Text
Wallace Defunct Bank Pays. Wallace, Idaho.-L. C. Wilson, receiver of the State Bank of Commerce, announces that he paid a dividend of 42 per cent, or approximately $53,000, on September 25. This money is a portion of the proceeds of the sale of he bank's home several weeks ago.
18.September 27, 1912Bonners Ferry HeraldBonners Ferry, ID
Click image to open full size in new tab
Article Text
Wallace Defunct Bank Pays. Wallace, Idaho.-L. C. Wilson, receiver of the State Bank of Commerce, announces that he paid a dividend of 42 per cent, or approximately $53,000, on September 25. This money is a portion of the proceeds of the sale of he bank's home several weeks ago.
19.October 3, 1912Elk City Mining NewsElk City, Red River Hot Springs, Red River, Newsome, Dixie, Buffalo Hump, Buffalo, Crooked River, ID
Click image to open full size in new tab
Article Text
Wallace Defunct Bank Pays. Wallace, Idaho.-L. C. Wilson, receiver of the State Bank of Commerce, announces that he paid a dividend of 42 per cent, or approximately $53,000, on September 25. This money is a portion of the proceeds of the sale of he bank's home several weeks ago.
20.January 9, 1913The Ontario ArgusOntario, OR
Click image to open full size in new tab
Article Text
O'NEIL PLEADS NOT GUILTY Former Wallace Banker Arraigned on Nine Counts in Shoshone Court Wallace.-Judge W. W. Woods Thursday issued an order calling for the immediate arraignment of B. F. O'Neil, former president of the now defunct State Bank of Commerce, on nine counts charging the issuance of false reports. Following the session of the grand jury, which indicted the banker on six counts, Prosecuting Attorney James A. Wayne filed additional informations charging that the bank became insolvent May 1, and that the banker committed an offense each day he allowed the institution to run after that date. The arraignment of O'Neil occupied but ten minutes in district court Saturday morning. With formality and superfluity omitted by thé prisoner's consent, but one of the nine charges were read in its entirety. The differences in the eight other complaints were detailed. As each of the number was called he pleaded not guilty. The setting of the cases has been left until the coming term which begins in February. O'Neil's bond on these nine counts continues under the ruling of the court at $2000 on each. This makes the total bond $54,000.
21.May 8, 1913The Wallace MinerWallace, Kellogg, ID
Click image to open full size in new tab
Article Text
As receiver of the State Bank of Commerce of Wallace, Idaho.
22.November 13, 1914The Kendrick GazetteKendrick, ID
Click image to open full size in new tab
Article Text
The affair of the defunct State Bank of Commerce, of Wallace, of which Barney O'Neil was president, are practically wound up. Harry L. Day last week paid the receiver $39,094, making a total of $153,141 paid in by Mr. Day under his agreement to protect the depositors and permits the closing of the banks affairs about a year ahead of the time agreed.
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.
