gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
162e3965f2b8be8f
Response Measures
Accommodated withdrawals, Full suspension, Books examined
Receivership Details
Depositor recovery rate
61.0%
Date receivership started
1891-12-05
Date receivership terminated
1899-05-31
OCC cause of failure
Fraud
Share of assets assessed as good
28.3%
Share of assets assessed as doubtful
64.8%
Share of assets assessed as worthless
6.9%
Description
Suspension followed a brief run linked to the failure of the California (San Diego) bank; receiver appointed in early December 1891.
Events (5)
1.December 2, 1885Chartered
Source
historical_nic
2.November 13, 1891Run
Cause
Correspondent
Cause Details
Depositors frightened and heavy withdrawals triggered by failure/suspension of the California Bank at San Diego (same president J. W. Collins).
Measures
Posted notice of temporary suspension on account of lack of funds; United States examiner later took charge.
Newspaper Excerpt
closed its doors after a run of an hour ... business is temporarily suspended on account of the absence of funds to meet the demands of depositors.
Source
newspapers
3.November 13, 1891Suspension
Cause
Correspondent
Cause Details
Temporary suspension due to lack of funds after heavy withdrawals following failure of the California (San Diego) bank with common president.
Newspaper Excerpt
Notice ... business is temporarily suspended on account of the absence of funds to meet the demands of depositors.
Source
newspapers
4.December 5, 1891Receivership
Source
historical_nic
5.December 5, 1891Receivership
Newspaper Excerpt
Official notice of the appointment of J. Ware Foster as receiver of the Cheyenne National bank was received from the comptroller of the currency yesterday.
Source
newspapers
Newspaper Articles (24)
1.November 14, 1891Evening StarWashington, DC
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Article Text
The Cheyenne (Wyo.) Bank Closes. The Cheyenne National Bank of Cheyenne, Wyo., closed its doors after a run of an hour yesterday and posted a notice announcing temporary suspension on account of lack of funds to meet the demands of the depositors. The liabilities are $250,000 and the bank is solvent with $40.000 in exchange in Chicago and New York. The failure was caused by the breaking of the California Bank at San Diego, Cal. J. W. Collins was at the head of both institutions. Senator John Sherman is a stockholder of this bank and John Jay Knox of New York is another.
Lack Funds. CHEYENNE, Wyo., Nov. 13.-Notice just posted at the Cheyenne National bank is to the effect that business is temporarily suspended on account of the absence of funds to meet tbe demands of depositors. This is caused by the failure of the Bank of California at San Diego, J. W. Collins having been at the head of both houses. Several large sums were drawn from the local institution the first thing this morning, and a run was precipitated. No figures on the condition can be had now but people are confident that the bank will be re-organized and resume in a few days.
3.November 14, 1891The SunNew York, NY
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Article Text
SENATOR SHERMAN HAS STOCK IN IT. The Cheyenne National Bank Stops with Liabilities of $260,000, CHEYENNE. Nov. 13.-A notice posted at the Cheyenne National Bank is to the effect that business is temporarily suspended on account of the absence of funds to meet the demands of the depositors. This is caused by the failure of the Bank of California at San Diego. J. W. Collins having been at the head of both houses. Several large sums were drawn from the local institution the first thing this morning and a run followed. No statement has been made, but the people are confident that the bank will be reorganized in a few days. Senator John Sherman and John Jay Knox have stock in the bank. It is estimated that the liabilities of the bank are $260,000.
4.November 14, 1891The Salt Lake HeraldSalt Lake City, UT
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Article Text
The Cheyenne National Bank Fails. CHEYENNE, Wyo., Nov. 13.-[Special telegram to THE HERALD.]-The third bank failure in the history of this town occurred to-day. The Cheyenne National went down after & hard run of fifty minutes. In that time $48,000 was paid out. Depositors were frightened by the suspension of the California bank of San Diego, Cal., as John W. Collins was president of both. That he was involved was learned last evening, too late to strengthen
5.November 15, 1891The Helena IndependentHelena, MT
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Article Text
The Cheyeune Bank. CHEYENNE, Wyo., Nov. 14.-The liabilities of the Cheyenne bank are $318,000. with assets twice that amount. and such men as John Sherman and John Jay Knox hold blocks of stock. The Cheyenne National bank will liquidate in full. The only bad feature is that the calling in of loans by an examiner or a receiver will put 8 cramp on some local concerns.
6.November 15, 1891The Morning CallSan Francisco, CA
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Article Text
The Cheyenne National Bank. CHEYENNE (Wyo.), Nov. 14.-The llabilities of the Cheyenne National Bank are $318,000, with assets twice that amount, and such men as John Sherman and John Jay Knox holding blocks of stock. The Cheyenne National Bank will liquidate in full. The only bad feature is that calling in of loans by the examiner or receiver will cramp some local concerns.
7.November 15, 1891Telegram-HeraldGrand Rapids, MI
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Article Text
Closed Its Doora CHEYENNE, Wyo., Nov. 14.-The Cheyenne national bank closed its doors after 3 run of an hour Friday and posted a notice announcing temporary suspension on account of lack of funds to meet the demands of depositors. The liabilities are $260,000, and the bank is solvent with $40,000 in exchange in Chicago and New York. The failure was caused by the breaking of the California bank at San Diego, Cal.
8.November 15, 1891The Salt Lake HeraldSalt Lake City, UT
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Article Text
Liabilities of the Cheyenne Bank. CHEYENNE, Nov. 14.-The liabilities of the Cheyenne National bank are $318,000 with assets twice that amount and such men as John Sherman and John Jay Knox holding blocks of stock. The Cheyenne National bank will liquidate in full. The only bad feature is that the calling in of loans by the examiner or receiver will put a cramp on some local concerns.
9.November 15, 1891The SunNew York, NY
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Article Text
The Suspended Cheyenue Bank. CHEYENNE. Nov. 14.-Comptroller Lacey telegraphed from Washington to-day that Examiner Griffiths is on the way here to take charge of the Cheyonne National Bank the suspension of which was announced yesterday. The liabilities of the bank are $318,000 with assets said to be twice that amount.
10.November 17, 1891Pawtucket TribunePawtucket, RI
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Article Text
Lost His Courage. CHEYENNE, Wyo., Nov. 17.-George R. Beard, cashier of the Cheyenne National bank, which suspended Friday, committed suicide yesterday by shooting. Beard was despondent over the failure of the bank, though the United States examiner, who is in charge, says it will pay all claims.
11.November 17, 1891The Madison Daily LeaderMadison, SD
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Article Text
Bank Failure Causes Suicide. CHEYENNE, Wy., Nov. 17.-George T. Bard, cashier of the Cheyenne National bank, which suspended Friday, committed suicide during the morning by shooting. Bard was despondent over the failure of the bank, though the United States examiner who is in charge says it will pay all claims.
12.November 17, 1891Morning Journal and CourierNew Haven, CT
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Article Text
Committed Suicide. CHEYENNE, Wyo., Nov. 16.-George R. Beard, cashier of the Cheyenne National bank, which suspended Friday, committed suicide this morning by shooting. Beard was despondent over the failure, though the examiner who is in charge says it will pay all claims.
13.November 19, 1891Grant County HeraldLancaster, WI
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Article Text
Killed Himself. CHEYENNE, Wyo., Nov. 18.-George L. Beard, cashier of the Cheyenne national bank, which suspended Tuesday, has committed suicide by shooting. Beard was despondent over the failure of the bank, though the United States examiner, who isin charge, says it will pay all claims.
Suicide of is Bank Cashier. CHEYENNE, Wyo., Nov. 17.-George T. Bard, cashier 01 the Cheyenne National bank, which was suspended Friday. committed suicide this morning by shooting, Bard was despondentover the failure of the bank, though the United States examiner, who is in charge, saysit will pay all claims.
Wyoming Bank Failure. CHEYENNE, Wyo., Nov. 15.-The third bank failure in the history of this town has occurred. The Cheyenne National went down after a hard run of fifty minutes. In that time $48,000 was paid out. The depositors were frightened by the suspension of the California bank, of San Diego. Cal. John W. Collins was president of both. The bank here is said to be solvent, but had not the cash on hand to meet the unexpected run. Depositors will be paid in full,
16.November 21, 1891Macon BeaconMacon, MS
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Article Text
Bank Cashier Commits Suicide. CHEYENNE, Wyo., Nov. 17.-George A. Beard, cashier of the suspended Cheyenne National bank, sent a bullet into his brain, at about 6 o'clock Monday morning.
17.November 21, 1891The Weekly TribuneGreat Falls, MT
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Article Text
Another Bank suspension. CHEYENNE, Nov. 13. Notice is just posted at the Cheyenne National bank to the effect that business is temporarily suspended on account of the absence of funds to meet the demands of depositors. This is caused by the failureof the Bank of California at San Diego, J. W. Collins having been at the head of both houses. Several large sums were drawn from the local institution the first thing this morning and a run precipitated. No figures on its condition can be had now. but people are confident that the bank will be reorganized and resume in a few days.
Official Notice Received Official notice of the appointment of J. Ware Foster as receiver of the Cheyenne National bank was received from the comptroller of the currency yesterday. Mr. Foster expects to qualify either tomorrow or Friday. His bond is in the sum of $40,000.
19.September 14, 1895The HeraldLos Angeles, CA
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TOO FREE WITH THE PEN, And Now Finds Himself in Serious Trouble FOR ARRESTED FORGERY Prominent Throughout the West in Business Circles w. R. Stebbins of Kansas City Charged With Having Used Another Man's Signature SALT LAKE Sept. 13.-A special to the Tribune from Cheyenne, Wyo., says: W. R. Stebbins, who has been well known in banking and business circles throughout the west for the past twenty years, was arrested here this morning by Sheriff Armstrong of Crook county on the charge of forgery. The sheriff started north at once with his prisoner, who will have a hearing at Sun Dance early next week. Mr. Stebbins' home is in Kansas City, Kan., where he is connected with the American Loan and Trust comDany. He has large property interests here, owning the Cheyenne postoffic e building. He has been connected as a stockholder or officer in the Merchants' National bank of Deadwood, S. D.: the Stebbins, Post & Co. bank of Cheyenne; the First National bank of Sun Dance; the Stock Growers National of Miles City; Cheyenne National and California National of San Diego, all of which have failed but without loss, it is alleged, to Stebbins. It 18 charged that Mr. Stebbins owne ed a block of stock in the First National of Sun Dance from its organization. To conceal his ownership of the bank stock Mr. Stebbins transferred it to a Kansas City man named Mills. The bank was then prospering and paying dividends on the stock. It is alleged that in order to secure the dividends on the stock transferred to Mills, Stebbins made out a power of attorney to the addition of Sun Dance, signed Mills' name to it and sent the document to A. D. Dunn. It authorzed him to vote the stock and collect the dividends. It is also alleged that Mills was in ignorance of this transaction. Later the bank failed and went into the hands of Receiver Milo A. Adams, who levied an assessment on all stockholders for the benefit of the banks' creditors. Both Mills and Stebbins denied owning the stock referred to and an investigation which followed resulted in the discovery of the forgery. Besides his connection with western banks, Mr. Stebbins is connected with the banking firm of Christic & Janney of New York. Suits against him by representatives of the broken banks have been commenced in New York city. Wyoming and Kansas City. Mr. Stebbins and his family have traveled abroad considerably, and he is regarded as personally being very wealthy.
20.September 15, 1895The Seattle Post-IntelligencerSeattle, WA
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All His Banks Failed, but, It Is Said, Without Loss to Him. Salt Lake, Sept. 13.-A special to the Tribune from Cheyenne says: W. R. Stebbins, who has been well known in banking and business circles throughout the West for the past twenty years, was arrested here this morning by Sheriff Armstrong, of Crookston, on a charge of forgery. The sheriff started north at once with his prisoner, who will have a hearing at Sun Dance early next week. Mr. Stebhins' home is in Kansas City, Kan., where he is connected with the American Loan and Trust Company. He has large property interests here, owning the Cheyenne postoffice building. He has been connected as a stockholder or officer with the Merchants' National Bank of Deadwood, S. D.; the Stebbins, Post & Co. Bank of Cheyenne; the First National Bank of Sun Dance: the First National Bank of Spearfish: the Stock Growers' National Bank of Miles City: the Cheyenne National Bank and the California National Bank of San Diego, all of which have failed, but without loss, It is alleged, to Stebbins. It is charged that Mr. Stebbins owned a block of stock in the First National Bank of Sun Dance from its organization. To conceal his ownership of the bank stock Mr. Stebbins transferred it to a Kansas City man named Mills. The bank was then prospering and paying dividends on the stock. It is alleged that in order to secure the dividends on the stock transferred to Mills, Stebbins made out a power of attorney. signed Mills' name to It and sent the document to A. D. Dun. It authorized him to vote the stock, receipt for and collect the dividends. It is also alleged that Mills was in ignorance of this transaction. Later the bank failed and went into the hands of a receiver, Milo A. Adams, who levied an assessment on all the stockholders for the benefit of the bank's creditors. Both Mills and Stebbins denied owning the stock referred to, and an investigation followed. resulting in discovery of the forgery. During his connection with Western banks he has also been connected with the banking firm of Christie & Janney, of New York. Suits against him by representatives of the broken banks have been commenced in New York city, Wyoming and Kansas City. Mr. Stebbins and his family have traveled abroad considerably, and he is regarded as being very wealthy.
21.November 9, 1896Omaha Daily BeeOmaha, NE
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Cheyenne National's Last Dividend. CHEYENNE, Wyo., Nov. 8.-(Special.)J. W. Foster, receiver of the Cheyenne National bank, which failed in 1893, is arranging to pay an additional dividend to the depositors, who have already received 60 per cent of their claims. The dividend to be paid will not exceed 10 per cent, and will be the last that will be declared.
22.March 11, 1898The Indianapolis JournalIndianapolis, IN
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General News. WASHINGTON, March 10.-The controller of the currency has appointed John R. Hanna, of Denver, receiver of the Cheyenne National Bank, of Cheyenne, Wyo., in place of J. W. Foster. To-day's statement of the condition of the treasury shows: Available cash balance, $225,257,269; gold reserve, $169,087,286.
23.March 11, 1898The Salt Lake HeraldSalt Lake City, UT
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The comptroller of the currency has appointed John R. Hanna, of Denver, receiver of the Cheyenne National bank, of Cheyenne, in place of J. W. Foster.
24.October 18, 1900The Pacific Commercial AdvertiserHonolulu, HI
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LYCURGUS MET HIM IN ATHENS San Dieg) Absconder Dare Again Turns up in Alexandia, Egypt. CHEYENNE, (Wyo.), Oct. 7.-Disguised under an assumed name and a heavy growth of whiskers, D. D. Dare, the defaulting president of the California National Bank of San Diego, Cal., and the Cheyenne National Bank, is now posing as a prominent citizen of Alexandria, Egypt, where he is the president of the principal street railway. United States detectives have been searching for Dare ever since his flight to Europe in 1891. but until very recently no trace of him could be had. A German traveler, who knows him intimately, discovered him on a recent visit to Alexandria. He did not make himself known to Dare, but instituted a quiet inquiry, and learned that he had been there for several years; that he was the president and principal stockholder in the Alexandria street railway, and was posing as a very prominent citizen. The German said that few people would recognize in the street railway magnate the man who had wrecked two national banks. Early in 1891 the San Diego bank failed for $300,000 and the Cheyenne ir.stitution followed a few days later for $250,000. Dare fled to Europe, and it is charged that he took large sums of money belonging to the depositors with him. He was accompanied by his ife, who returned to this country soon after. when the story became current that Dare had attempted to throw her overboard while crossing the Atlantic. It is believed that secret service men are now en route to Egypt to place Dare under arrest. SAN FRANCISCO, Oct. 8.-George Lycurgys of Honolulu left his island home in 1895 for a tour of Europe and also with a view of visiting Greece, his native land. Lycurgus had been told by acquatrtances of Dare that the absconder was in Athens and asked to visit him there. He said he found Dare running a concern known as the American Rug Company, with its place of business on the main thoroughfare of the ancient n.etropolis. While Dare was not talkative on the subpect of his sudden leparture from America, he said that he had :,1t San Diego solely on account of the climate, which did not agree with him. When reminded by Lycurgus that the climates of San Diego and Athens were much the same, Dare Insisted that the temperature of the Grecian city was much more conducive to his health. He denied that he had taken any funds of the bank, and insisted that he had left San Diego without any money. He had been fairly prosperous in the rug business and said that he expected his family to join him at an early date Dare said that owing to the climate Le did not think he would ever return to America.
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.
