Iowa Savings Bank (Sioux City, IA)

Episode Information

Episode UID
3372620791163
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
savings
Bank ID
337262079 hash
Start Date
November 1, 1896*
Location
Sioux City, Iowa (42.500, -96.400)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6b9edbc3ecdbaa61

Response Measures

None

Description

Coverage repeatedly states heavy withdrawals tied to failure of Union Loan & Trust; receiver appointed same week.

Events (3)

1. November 1, 1896* Run
Cause
Local Banks
Cause Details
Runs and heavy withdrawals followed the failure of the Union Loan and Trust company, draining ready cash
Newspaper Excerpt
When the Union Loan and Trust company failed there were runs on both the Sioux National and Iowa Savings banks
Source
newspapers
2. November 10, 1896 Receivership
Newspaper Excerpt
A receiver was appointed for the Iowa Savings bank of this place by the district court this morning. ... Mr. Manley of the Security National was placed in charge as receiver.
Source
newspapers
3. November 10, 1896 Suspension
Cause
Local Banks
Cause Details
Steady withdrawals (linked to runs after other local bank failures) and inability to realize on securities forced closure
Newspaper Excerpt
The Iowa Savings bank closed its doors to-day. ... W. P. Manley has been appointed receiver.
Source
newspapers

Newspaper Articles (17)

Article from The Topeka State Journal, November 10, 1896

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Article Text

PROSPERITY TOO LATE To Reach This Sioux City Savings Bank-Closes Today. Sioux City, Ia., Nov. 10.-The Iowa Savings bank closed its doors today. The steady withdrawal of deposits and inability to realize on securities except at a great sacrifice were the causes of the failure. The bank statement of October 10 showed $470,000 assets and $150,000 deposits. W. P. Manley has been appointed receiver. Bank officials this afternoon gave out a statement of the condition of the bank's affairs. The assets are: Loans and discounts, $419,000: cash on hand, $617. Liabilities: Individual depositors, $123,400; capital $250,000. Tonight will be the last opportunity to view the grandchrysanthemum show in the room formerly occupied by the Hall Lith. Co.


Article from Santa Fe Daily New Mexican, November 10, 1896

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Article Text

Bank Collapsein Iowa. Sioux City, Iowa, Nov. 10.-The Iowa Savings bank closed its doors to-day. Steady withdrawals of deposits and inability to realize on securities except at R k reat sacrifice were the causes of the failures. The bank's statement on Oo. tober 10 showed $470,000 assets; $150, deposits. W. P. Manler has been appointed receiver.


Article from The News & Observer, November 11, 1896

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Article Text

BANK FAILURES. Sioux City, Iowa, Nov. 10.-The Iowa Savings Bank closed its doors to-day. The steady withdrawal of deposits was the main cause of the failure. The bank statement of October 10th showed $470.000 assets and $150,000 deposits. W. P. Manley has been appointed receiver.


Article from Birmingham State Herald, November 11, 1896

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Article Text

ANOTHER PROSPERITY SIGN. Sioux City, Ia., Nov. 10.-Inability to realize on its securities and heavy withdrawals of deposits caused the Iowa Savings bank to close its doors this morning. The bank's last statement showed assets $470,000, deposits, 150,000. W. P. Manley was appointed receiver.


Article from The Copper Country Evening News, November 11, 1896

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Article Text

Sioux City Bank Failure. Sioux City, Ia., Nov. 11.-The Iowa Savings bank closed its doors Tuesday morning. A steady withdrawal of deposits and inability to realize on securities except at. great sacrifice were the cause of the failure. No statement The of liabilities or assets is made. bank statement Oct. 10 showed $470,000 assets and $150,000 deposits. W. P. Manley has been appointed receiver.


Article from Richmond Dispatch, November 11, 1896

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Article Text

Savings-Bank Suspends. SIOUX CITY, IA., November 10.-Inability to realize on its securities and heavy withdrawals of deposits caused the iowa Savings Bank to close its doors this morning. The bank's last statement showed assets of $470,000; deposits, $150,000. W. P. Manley was appointed receiver.


Article from The Morning News, November 11, 1896

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Article Text

Sioux City, Ia., Nov. 10.-Inability to realize on its securities and heavy withdrawals of deposits, caused the Iowa Savings Bank to close its doors this morning. The bank's last statement showed assets of $470,000, and deposits of $150,000. W. P. Manley was appointed receiver.


Article from Omaha Daily Bee, November 11, 1896

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Article Text

SIOUX CITY SAVINGS BANK FAILS. Carried Down Finally in the Wreck of the Union Loan and Trust. SIOUX CITY, Nov. 10.-(Special Telegram.)-A receiver was appointed for the Iowa Savings bank of this place by the district court this morning. The bank was the oldest savings bank in the city, having been organized in 1883, with D. T. Hedges, one of the big boomers, as president, and L. Wynn as cashier. In its early days it was closely connected with the Sioux National bank and both the banks were connected more or less with the syndicate of boomers who made Sioux City famous a few years ago. When the Union Loan and Trust company failed there were runs on both the Sioux National and Iowa Savings banks, and it was with difficulty that they were saved. Some weeks ago the Sioux National gave up and this affected the Iowa Savings also. During the campaign withdrawals of deposits were steady and yesterday the bank was left practically without ready cash. Mr. Manley of the Security National was placed in charge as receiver. The report shows the following: Assets:


Article from The Roanoke Daily Times, November 11, 1896

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Article Text

ANOTHER BANK IN TROUBLE. Sioux City, Ia., Nov. 10.-The Iowa Savings Bank closed its doors to-day. The steady withdrawals of deposits and inability to realize on securities, except at a great sacrifice, were the causes of the failure. The bank statement of October 10 showed $470,000 assets, and $150,000 deposits. W.P. Manley has been ap pointed receiver.


Article from The Guthrie Daily Leader, November 12, 1896

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Article Text

a SIOUX city savings mana while. SIOUX CITY, Iowa, Nov. 11.-W, T. Manley was to-day appointed receiver of the Iowa Savings bank. Slow collections and heavy withdrawals of deposits were the causes. The assets are placed at 8445,515.45, and the deposits at $123,428.13.


Article from The Pioneer Press, November 12, 1896

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Article Text

Savings Bank Fails. Sioux CITY, Ia., Nov. 11.-The Iowa Savings bank has closed its doors. The steady withdrawals of deposits and inability to realize on securities except at a great sacrifice, were the cause of the failure. The bank's statement of Oct. 10 showed $470,000 assets and $150,000 deposits. W.D. Manley has been named as receiver.


Article from The Dickinson Press, November 14, 1896

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Article Text

Another in Sioux City. Sioux City, Iowa, Nov. 12.--The Iowa Savings bank closed its doors to-day. the steady withdrawals of deposits and inability to realize on securities except at a great sacrifice were the causes of the failure. The bank statement of Oct. 10 showed $470,000 assets and $150,000 deposits. W. P. Manley has been appointed receiver.


Article from Twice-A-Week Plain Dealer, November 17, 1896

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Article Text

Sioux City, Iowa, Nov. 10.-Oa application of L. T. Richardson, W. T. Manley was this morning appointed receiver of the Iowa savings bank of this place.


Article from Mineral Point Tribune, November 19, 1896

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Article Text

the South Boston police court charged with the murder of his sister, Mrs. Fallon of South Boston on the night of October 31 and was held without bail. There is such activity at the Brooklyn navy yard in completing repairs on warships that United States naval officers believe the government has determined upon a show of force In some quarter. Rev. Alexis Berk, aged 23, has probably perished in the Flathead Mts., Montana. His body is being searched for. He was a circuit rider with 130 miles circuit. His people live in Chicago. Miss Dolly Mollar, of Otsego, Mich., went crazy election night while shouting "Hurrah for McKinley!" Walter Cord, of Macomb township, aged 26, since election has done nothing but shriek "16 to 1." At Manchester, Conn., the big silk mills of the Cheney Bros. began a full time schedule. The works have been running at a reduced time for more than three years. The change affects 2,500 employes. By the explosion of a boiler at the Centralia colliery, Centralia, Pa., on Saturday, John Rovitze and Andrew Munock were killed, and Michael Kulick, John Stenshak and Mathias Lesher were fatally injured. At Lyons, N. Y., the Manhattan silver plate factory has commenced running nights on account of large orders. The New Haven silver plate factory and A. H. Town & Co.'s silver plate factory have both started up on full time. At Lebanon, Ky., William Bean, the negro who assaulted Mrs. L. C. Clark, was captured and carried before Mrs. Clark, who identified him. She is expected to die, but pleaded with the crowd to let the law take its course. He is in jail. Important discoveries regarding the planets Venus and Mercury are made at the Lowell observatory in Arizona. Kentucky republicans and gold democrats in the legislature may unite upon Secretary Carlisle for senator to defeat Blackburn. Governor Oates of Alabama in his annual message asks that the carrying of concealed weapons be made a felony: recites numerous cases of lynching in this state in the last two years, and makes some timely suggestions to the legislature. Dr. James Stinson Wintermute, who moved to Tacoma ten years ago from Chicago, was murdered by Samuel Tucker, a hypochondriac. The latter then committed suicide. Dr. Wintermute had been treating Tucker for melancholia. Incendiaries fired James T. Abbot's house at Hamlin, Va. Cora, his daughter aged 20, was burned to death. She was recently acquitted for alleged blowing up of Squire Vance's house with dynamite, killing one and injuring another. At Bristol, Conn., a business revival is felt and the most notable instance of it is found at the works of the Bristol Brass and Clock Co. The factory will now run overtime. This course is necessary to all orders which have been received. The winter residence and the valuable library of Miss Octava French, 10cated at Elmwood, Ark., were burned. Miss French is better known as Octave Thanet, the novel and magazine writer. The family narrowly escaped. The loss is $12,000. Fire in the five-story huilding. 45 and 47 Federal street, Boston, caused a loss of about $8,000, chiefly to George Coleman, book binder. Heyer Bros toys, etc., and C. F. West, printer, suffered considerable from smoke and water. Coleman's insurance is $5,000. The United States battleship Texas while lying at the cob deck, Brooklyn navy yard. this morning, had a thirteen-inch hole stove in her side, caused by the breaking of her sea cock. and she now lies on the bottom of the dock with her engine room full of water. The Iowa Savings bank, at Sioux City, closed its doors. The steady withdrawal of deposits and inability to realize on securities except at a great sacrifice were the causes of the failure.


Article from Audubon Republican, May 27, 1897

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Article Text

Stockholders Assessed 100 Per Cent. SIOUX CITY, Ia., May 25.-A 100 per cent assessment was ordered against the $350,000 of stock in the defunct Iowa Savings bank of this place. The receiver has now on hand but $15,000 to pay $16,545 of claims. Sixty days is allowed for payment of the assessments.


Article from The Vermont Watchman, June 16, 1897

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Article Text

Sioux City Finances. The receiver of the Iowa Savings bank of Sioux City, Iowa, makes a sorry showing of its condition:


Article from The Herald, August 21, 1897

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Article Text

Stockholders Sued SIOUX CITY, Iowa, August 20.-Receiver Winton of the Iowa Savings Bank has begun action against the stockholders in the institution for a 100 per cent assessment under the double liability law. The suits aggregate $126,800 and will be followed by others against nonresident stockholders.