Ainsworth National Bank (Portland, OR)

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Episode Information

Episode UID
340201123
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
34020 national
Charter Number
3402
Start Date
July 29, 1893
Location
Portland, Oregon (45.523, -122.676)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d9cfc3506985f057

Response Measures

Public signal of financial health, Full suspension, Books examined

Events (5)
1. October 27, 1885 Chartered
Source
historical_nic
2. July 29, 1893 Run
Cause
Macro News
Cause Details
Heavy withdrawals by depositors (panic/rapid cash demands) exhausted available funds and collections.
Measures
Temporarily suspended operations; posted notices that suspension was temporary and depositors would be paid in full.
Newspaper Excerpt
closed their doors this morning on account of depositors drawing money faster than collections could be made.
Source
newspapers
3. July 29, 1893 Suspension
Cause
Macro News
Cause Details
Temporary suspension due to heavy withdrawals and inability to realize on securities amid the wider banking distress.
Newspaper Excerpt
failed to open their doors this morning. ... forced to temporarily suspend owing to heavy withdrawal of deposits during the last sixty days and inability to realize on securities.
Source
newspapers
4. September 14, 1893 Reopening
Newspaper Excerpt
The Ainsworth National bank, which closed July 29, reopened for business this morning under orders from the comptroller.
Source
newspapers
5. November 3, 1902 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (16)
1. July 29, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 29, 1893

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Article Text

TODAY'S FAILURES. One of the Oldest Firms in the Country. HAMILTON, Ohio, July 29.-McNeal & Urban, safe an 1 lock company, one ofthe oldest safe firms in the country assigned. The assets are $160,000; liabilitiesure unknown. The firm claims to be solvent. AKRON, O., July 29.-The Citizens' Savings and Loan association failed this morning. It will pay in full. The capital is $100,000 and the surplus $80,000. KANKAKEE, Ills., July 29.-The First National bank failed this moruing. The assets are sufficient to pay the depositors in full. PORTLAND, Ogn., July 29.-The Commercial National, Portland Savings bank and the Alnsworth National bank failed this morning. With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.

2. July 30, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, July 30, 1893

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Article Text

CLOSED DOORS. PORTLAND, Or., July 29-The Commercial National, Portland Savings and Ainsworth National banks failed to open this morning. With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.

3. July 30, 1893 The Morning News Savannah, GA
Article from The Morning News, July 30, 1893

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Article Text

A FLURRY IN OREGON. Three Banks of Portland Close Their Doors and Others Apt to Do So. Portland, Ore., July 29.-The Commercial National Bank, the Portland Savings Bank, and the Ainsworth National, closed their doors this morning on account of depositors drawing money faster than collections could be made. Several other banks are paying out rapidly, and it is possible that some of the smaller ones may suspend. All are considered absolutely safe, however, and these which have been forced to suspend have more than ample security to meet their liabilities.

4. July 30, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 30, 1893

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Article Text

Bank Failures at Portland. PORTLAND, July 29.-The Commercial National, Ainsworth National and Portland Savings banks did not open their doors this morning. D. P. Thompson was appointed receiver of the Portland Savings bank this atternoon. It is probable that all three of the suspended banks will reopen next week. Frank Dekum is president, R. L. Durham vice president and E. Cookingham, cashier of the Commercial National. The directors are: D. P. Thompson. George H. Williams, Henry Weinhard, H. C. Wortman, R. L. Durham, John B. David, Edward Cookingham, Frank Dekum, R. M. Wade, C. Rockwell, George H. Durham, J. F. Watson, John McCraken. C. C. Beekman. The Portland Savings bank is an allied institution to the Commercial National. Frank Dekum is president, D. P. Thompson vice president, H. C. Stratton cashier. The directors are: Frank Dekum, D. P. Thompson, E. 8. Kearney, J. F. Watson, Cleveland Rockwell, G. H. Durham, W. F. Burrell, S. A. Durham, K. J. Jeffery. The Ainsworth National bank is a government depository. H. L Hawkins is president, W. K. Smith vice president, J. P. Mar. shall cashier. The directors are: H. L. Hawkins, W. K. Smith, J. P. Marshall, L. F. Grover, W. S. Charleston. The Bank of Forest Grove has suspended. None of these banks has any connection with any Seattle bank.

5. July 30, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 30, 1893

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Article Text

Portland (Ore.) Suspensions. (By telegraph to the Dispatch.) PORTLAND, ORE., July 29.-The Commercial National Bank, the Portland Savings Bank, and the Ainsworth National Bank closed their doors this morning on account of depositors drawing money faster than collections could be made. Several other banks are paying out rapidly and it 18 possible that some of the smaller ones may suspend. All are considered absolutely safe, however, and those which have been forced to suspend have more than ample security to meet their liabilities.

6. July 30, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 30, 1893

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Article Text

MORE PORTLAND BANKS. T ree of Them Failed to Open Their Doors on Yesterday. PORTLAND, Or., July 29.-The Commercial National, Portland Savings bank and the Ainsworth National bank failed this morning. With the exception of a slightrun on the First National, the largest bank in the city, there was no excitement. The Commercial National and the Portland Savings are under the same management. A notice posted says the suspension is temporary and depositors will be paid in full. The Commercial has a capital of $250,000, and the Ainsworth National has a capital of $100,000. A statement published July 12 showed the Commercial National resources to be $1,950,000; deposits, $1,450,000. Ainsworth resources, $687,000; deposits, $447,000. The Ainsworth National is a United States depository. The Portland Savings has a capital of $250,000 and a surplus of $200,000. At 1 p. m., the closing hour, the excitement had subsided and the withdrawal of deposits at other banks ceased. D. P. Thompson was appointed receiver of the Portland Savings bank this afternoon. The statement of this bank shows resources, $2,955,000. Liabilities, $2,475,000.

7. July 30, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 30, 1893

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Article Text

BUSINESS. THREE PORTLAND BANKS. PORTLAND. Ore., July 29.-The Commercial National bank, the Portland Savings bank and the Ainsworth National bank failed to open their doors this morning. The National bank failure created great excitement. The Commercial and Portland Savings are under the same management. They were forced to temporarily suspend owing to the withdrawal of deposits and the inability to realize on securities. Depositors will be paid In full. The Commercial National has a paidup capital of $250,000. The Ainsworth National has a capital of $100,000. The statement of the Commercial and Ainsworth, published July 12, shows resources: Commercial, $1,950,000: Ainsworth. $687,000. Deposits: Commers clal, $1,455,000; Ainsworth. $470,000. The Ainsworth is a United States depository. No statement is made of the condition of the Portland Savings bank. It has a capital stock of $260,000, with a surplus of $220,000. D. P. Thompson was appointed receiver of the Portland Savings bank this afternoon. The statement shows resources, $2,955,000. which is considered a conservative estimate. Liabilities, $2,475,000.

8. August 3, 1893 Grant County Herald Lancaster, WI
Article from Grant County Herald, August 3, 1893

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Article Text

OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. Milwaukee, July 29.-A dispatch from Port Washington says the German American bank at that place has failed. Another special says Seymour's bank at Chippewa Falls also failed. CHIPPEWA FALLS, Wis., July 29.Seymour's bank of this city closed its doors yesterday. PORTLAND, Ore., July 29.-The Union Banking company of this city made an assignment yesterday. PORT WASHINGTON, Wis., July 29.-The German-American bank of this city closed its doors yesterday. STANTON, Mich., July 29. - C. W. Chopin & Co.'s bank here closed yesterday with a crowd of depositors at its doors. COVINGTON, Ind., July 29.-The Farmers' and Merchants' bank of this city closed up at 1 o'clock yesterday. ExUnited States Treasurer Nebeker is the president. MIDDLESBORO, Ky., July 29.-The First national bank of this place closed yesterday. GREAT FALLS, Mont., July 29.-The First national bank here suspended yesterday owing to the Helena bank's suspension. WASHINGTON, July 30.-Bank failures were reported to the comptroller as follows yesterday: First national at Kankakee, Ill.; Dollar savings bank at Youngstown, O.; Citizens' Savings and Loan association at Akron, O.; Commercial national, Ainsworth national and Portland savings banks at Portland, Ore.; Commercial at Eau Claire, First Wis.; Savings at Baraboo, W Exnational at Ashland, Wis., and change at Nunda, 111. WASHINGTON, Aug. 1.-Bank failures were reported as follows yesterday: First national at Portland, Ore.; First national at The Dalles, Ore.; Pendleton savings at Pendleton, Ore.; Bellingham Bay national at Whatcom, Wash.; Springfield savings at Springfield, Mo.; Akron savings at Akron, 0.; private bank of A. Daniels & Co. at Cedar Rapids, Ia.; private bank of J. W. Case at Astoria, Ore., and Park national at Livingston, Mont.

9. August 3, 1893 Reporter and Farmer Webster, SD
Article from Reporter and Farmer, August 3, 1893

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Article Text

PORTLAND BANKS CLOSE. Portland, Or., July 31. -- The Commercial National bank, Portland Savings bank and the Ainsworth National bank failed to open their doors. With the exception of a slight run on the First National bank. the largest in the city, there is no excitement.

10. August 3, 1893 Reporter and Farmer Webster, SD
Article from Reporter and Farmer, August 3, 1893

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Article Text

PORTLAND BANKS CLOSE. Portland, Or., July 31. -- The Commercial National bank, Portland Savings bank and the Ainsworth National bank failed to open their deors. With the exception of a slight run on the First National bank. the largest in the city, there is no excitement.

11. August 3, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, August 3, 1893

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THE FINANCIAL SITUATION. THREE PORTLAND BANKS. PORTLAND, Ore., July 29.-The Commercial National bank, Portland Savings bank and Ainsworth National bank failed to open their doors this morning. The Commercial and Portland Savings are under the ame management and were forced to temporarily suspend owing to withdrawal of deposits and inability to

12. August 5, 1893 Arizona Weekly Citizen Tucson, AZ
Article from Arizona Weekly Citizen, August 5, 1893

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Failures of the Day. PORTLAND, Ore., July 29. - Three banks failed to open their doors this morning. They were the Commercial National, Portland Savings and Ainsworth National. With the exception of 8 slight run on the First National, there was no excitement. A notice posted on each of the suspended banks says the banks were forced to temporarily suspend, owing to heavy withdrawal of deposits during the last sixty days and inability to realize on securities. Depositors will be paid in full. KANSAS, July 29.-The First National bank failed this morning. Assets sufficient to pay depositors in full. AKRON, Ohio, July 29.-The Citizens Savings and Loan association has failed.

13. September 15, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, September 15, 1893

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TELEGRAPHIC BREVITIES CHICAGO, Sept. 14.-The amount secured by the Lake Shore robbers is now put at $19.000. LONDON, Sept. .-The bank of England directors to-day rednced the rate of discount to four per cent. WEST BAY CITY, Sept. 14.-A million feet of lumber on John Welch's docks burned this morning; loss $100,000. LISBON. Sept. 14.-Portugese authorities have declared cholen quarantime against Now York as an infected po 1. TORONTO, Sept. 14. - The United States cricket team won the national crickes match with Canada by four wickets. FORT MONROE, Va., Sept. --The United States ornise. Detroit this morning sailed for Rio Janeiro to protect American interexts. PARIS. Sept. 14.-It is reported that in a few dave work will be entirely suspended throughout the north of France and four Belgian colliery districts. PORTLAND, Ore.. Sont. 14.-The - A'neworth National bank. which closed July 29, reopened for business this morning under orders from the comptroller. NEW YORK. Sept. 14.-The consignees of the Atlas line steamship Alvo, which has been long overdue nt Haytian ports, telegraphed this port 10-day that they had given her up. COWES, Isle of Wight, Sept. 14.-The Navahoe has been awarded the prize in the race for the Brenton's reef enp. which. aocording to first calculations. was thought to be won by the Britannia. LONDON. Sept. 14.-A large crowd of sporting nen gathered this morning at Euston square station to bid Adion to Chae. Mitchell, the pagilias, who left Wednesday for Liverpool on his way so the United Stater. CHICAGO, Sept. 14.-This was ORE of the hottest days of the year. The shormometer registered nimety-four at two this af. ternoon. Dozens in the fair grounds suocumbed to the heat, and many down town were also overcome.

14. September 15, 1893 Evening Star Washington, DC
Article from Evening Star, September 15, 1893

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Banks Resuming. The following national banks, which recently suspended payment, having fully complied with the conditions imposed by the controller of the currency, and their capital stock being unimpaired, have been permitted to reopen their doors for business: The First National Bank of Russell, Kan. The Ainsworth National Bank of Portland, Ore

15. September 20, 1893 The Star Reynoldsville, PA
Article from The Star, September 20, 1893

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FINANCIAL AND COMMERCIAL. The first National Bank, of Russell, Kas., and the Ainsworth National Bank of Portland, Ore., which suspended some time ago have been authorized to resume business. No bank failures have been reported since August 28.

16. September 21, 1893 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, September 21, 1893

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locate their us. Dr. Hartman, an old and prominent physician of Anllville, Mo., was shot and instantly killed by William Powell, of that place. The difficulty originated from an old feud between the two men. Henry S. Cochran. the embezzling Philadelphia Mint weigher, was arraigned and held 111 $30,000 bail in order to give him time to procure counsel. Supt. Bosbyshell testified that the shortage amounted to $28,000. Financial and Commercial. The first National Bank, of Russell, Kas., and the Ains worth National Bank of Portland, Ore., which suspended some time ago have been , uthor zed to resume business. No bank failures have been reported since August 28, The National bank of Ashland, at Ashland. Neb ,resumed business in an excellent condition.