gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
317322f0ce464466
Response Measures
Accommodated withdrawals, Borrowed from banks or large institutions, Clearinghouse loan, Books examined
Clearinghouse involved: Yes
(loan, examination, or other measures)
Description
Liquidation described as voluntary by Comptroller; clearing house aided to pay depositors in full.
Events (4)
1.May 15, 1886Chartered
Source
historical_nic
2.December 27, 1896Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by the failure/closing of the National Bank of Illinois; about $900,000 withdrawn
Measures
Associated Chicago banks (clearing house committee) pledged funds to enable payment to depositors; bank paid depositors as presented
Newspaper Excerpt
The Atlas suffered heavily from the runs occasioned by the closing of the National Bank of Illinois, deposits aggregating $900,000 having been withdrawn
Source
newspapers
3.December 28, 1896Suspension
Cause
Voluntary Liquidation
Cause Details
Directors/management decided to retire from business and liquidate after shrinkage of deposits and runs; liquidation described as voluntary by Comptroller
Newspaper Excerpt
The Atlas National bank of Chicago has decided to retire from business... began paying off its depositors preparatory to retiring from business
Source
newspapers
4.February 19, 1897Voluntary Liquidation
Source
historical_nic
Newspaper Articles (23)
1.December 28, 1896The Daily Morning Journal and CourierNew Haven, CT
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ANOTHERCHICAGO BANK SUSPENDS The Atlas National Decides to Retire from Business. Chicago, Dec. 27.-The Atlas National bank of Chicago has decided to retire from business, and the clearing house committee at a special meeting to-night decided that the associated banks of the city would advance the amount needed to pay its depositors in full. The amount required is in the neighborhood of $600,000. The officers of the Atlas National bank are: President, W. C. D. Grannis: vice president, C. B. Farwell; cashier. S. W. Stone; assistant cashier, W. S. Tillotson. The bank was organized in 1887. There is no doubt but that depositors will be paid in full.
2.December 29, 1896Wheeling RegisterWheeling, WV
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FINANCIAL DIFFICULTIES. The Atlas National Bank, of Chicago, Shuts Up Shop. No Deposits Being Accepted, and Depositors Being Paid Off as Fast as They Present Their Books-The Done Savings Bank of Chicago Affected by the Recent Failure. Bank of Superior, at Superior, Wisconsin, Suspended - Other Concerns That are No Longer Sound.
3.December 29, 1896Alexandria GazetteAlexandria, VA
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THE BANKS IN TROUBLE-The Atlas National Bank of Chicago yesterday began paying offits depositors preparatory to retiring from business. This is partly a result of the recent failure of the National Bank of Illinois. The Dime Savings Bank of Chicago took advantage of the ninety-day withdrawal notice law and suspended payment. The Bank of Superior, at West Superior, Wis., suspended payment on account of a run with which it was threatened. The Scandia Bank of Minneapolis also suspended payment, being unable to realize on assets. The McCoy Banking Company, of Independence, Mo., want into voluntary dation yesterday. It is said that are of the Security Mortgage Texas, eastern The failure of a suspension The assets -tgages
4.December 29, 1896The Madison Daily LeaderMadison, SD
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Article Text
Liquidation Entirely Voluntary. W ASHINGTON, Dec. 29.-Comptroller Eckels said that the closing of the Atlas National bank of Chicago was entirely a voluntary affair, and that the information he had received indicated that all the bank's creditors would receive payment in full; that no one would lose anything by the bank's liquidation and that affair would be settled very promptly. West Superior Bank Suspends. MILWAUKEE, Dec. 29.-A special to The Evening Wisconsin from West Superior, Wis., says: The Bank of Superior, doing business at East End, has suspended on account of a run with which they were threatened on account of the recent failures. An assignment was made by the directors to Henry S. Butler, who has taken possession. The bank had $25,000 capital and $50,000 surplus, which was largely tied up in investments. It is expected creditors will be paid in full.
5.December 30, 1896The Wilmington Daily RepublicanWilmington, DE
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Article Text
A Voluntary Assignment. BATAVIA? Ills, Dec. 30.-The liquidation of the Atlas National bank, of Chicago, has precipitated the suspension of the Van Nortwick bank, of Batavia. and the assignment by William M. and John S. Van Nortwick of all their vast property interests, aggregating $3,500,000, to the Equitable Trust company of Chicago. Their counsel declares that they will meet all claims, and that the assignment is wholly voluntary.
6.December 30, 1896Morris TribuneMorris, MN
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Article Text
THE ATLAS LIQUIDATION. It Causes the Suspension of the Van Nortwick of Batavia. BATAVIA, Ills., Dec. 30.-The liquidation of the Atlas National bank of Chicago has precipitated the suspension of the Van Nortwick bank of Batavia, and the assignment by William M. and John S. Van Nortwick, of all their vast property interests, aggregating $2,500,000, to the Equitable Trust
7.December 30, 1896The Evening HeraldShenandoah, PA
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Article Text
A Voluntary Assignment. BATAVIA, Ills., Dec. 30.-The liquidation of the Atlas National bank, of Chicago, has precipitated the suspension of the Van Nortwick bank, of Batavia, and the assignment by William M. and John S. Van Nortwick of all their vast property interests, aggregating $2,500,000, to the Equitable Trust company, of Chicago. Their counsel declares that they will meet all claims, and that the assignment is wholly voluntary.
Another Chicago Bank Fails. CHICAGO, Dec. 29.-As a result of the retirement of the Atlas national bank the Dime savings bank temporarily suspended payments. The directors of the Dime savings bank are practically the same as those of the A tlas national.
as accounts were checked up depositors were paid in full and their books taken up. The Atlas suffered heavily from the run occasioned by the failure of the National Bank of Illinois, deposits aggregating $900,000, having withdrawn This and the fact that a last week. gradual shrinkage of deposits extending over a long period of time, brought the resources of the institution down to a low figure, and it was decided to retire from business. Clearing House Investigate 1. The clearing house committee, at the request of the office of the bank made an investigation of its accounts with a view to allowing the doors to close withont loss to the public, and the bank was found to be solvent. To expedite liquidation, SO far as the creditors are concerned, the committee pledged the aid of the associated banks of Chicago. Vice President C. B. Farwell said "After the depositors have been paid off I believe the shareholders will receive a large percentage of their interest, if not every dollar." The Atlas is a comparatively young bank. It was organized in 1887. Its statement of Dec. 17, showed a surplus of $140,000 and undivided profits of $50,000. The statement also showed deposits of $1,850,000, bills payab.e to the amount of $100,000; loans and discounts of $1,941,000, and cash of $820,000. The deposits six months ago amounted to $3,500,000.
Dime Savings Bank Closed. CHICAGO, Dec. 29.-As a direct result of the retirement of the Atlas National bank, the Dime Saving bank temporarily suspended payments, taking advantage of the 90-day clause. A meeting of the directors will be held during the afternoon to decide upon the bank's future course. The directors of the Dime Savings bank are practically the same as those of the Atlas National.
11.December 31, 1896Delaware Gazette and State JournalWilmington, DE
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Article Text
BUSINESS TROUBLES. Washington, D. C., Dec. 29.-Comptroller of the Currency Eckels received telegraphic notice to-day that the Commercial National Bank of Roanoke, Va., had closed its doors and suspended payment. Batavia. III., Dec. 29.-The liquidation of the Atlas National Bank of Chicago has precipitated the auspension of the Van Nortwick Bank of Batavia and the assignment by William M. and John Van Nortwick of all their vast property interests, aggregating $2,500,000, to the Equitable Trust Co. of Chicago.
12.December 31, 1896Rocky Ford EnterpriseRocky Ford, CO
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Article Text
Retiring From Business, Chicago, Dec. 28.-Partly as a result of the failure of the National Bank of Illinois last week, the Atlas National bank began paying off Its depositors to-day. thus marking the first step in the retirement of that Institution from business. No deposits were received, and as fast as accounts were checked up depositors were paid in full and their books taken. The Atlas suffered heavily from the runs occasioned by the closing of the National Bank of Illinois, deposits aggregating $900,000 having been withdrawn last week. This and the fact that a gradual shrinkage of deposits extending over a long period of time brought the resources of the institution down to a low figure, and it was decided to retire from business.
13.December 31, 1896The Portland Daily PressPortland, ME
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Article Text
Chicago's Financial Panic Quieting Down. Chicago, December 30.-At the Atlas national and the National Bank of Illinois affairs have dropped into a rut and are running along without particular incident. Over $100,000 was paid out to depositors at the former bank yesterday, or through the National of America on its account. - At the Dime savings bank there was scarcely a ripple of excitement all day and its affairs appeared to have settled down to the ordinary plan. There were few rumors around town and the financial atmosphere cleared materially. The Van Nortwick collapse has no disturbing influence on the local situation. no = A Superior Wis., special says, that out of the 13 banks which were doing business a year ago only four are in business at the present time. In view of this fact the officials of the various banks are said to be interested in a plan to recognize and consolidate in one large institution with a capital stock of $1,500,000, which will be able to command the business of the flour mills and elevators which now goes to Duluth. The city of Superior during the last 15 months lost upwards of $200,000 in the failure of the city bank.
14.December 31, 1896New-York TribuneNew York, NY
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EXCITEMENT OVER IN CHICAGO. Chicago, Dec. 30.-At the Atlas National Bank and the National Bank of Illinois affairs have dropped into a rut, and are running along without particular incident. Over $100,000 was paid out to depositors at the former bank yesterday or through the National Bank of America on its account. It is now evident that the accounts of depositors cannot be closed by the end of the year, as many people who would have rushed to the bank. were it reported to be in danger of failing. are now extremely slow in drawing out their funds. At the Dime Savings Bank there was scarcely a ripple of excitement all day, and Its affairs appeared to have settled down to the ordinary plane. There were fewer rumors around town and the financtal sky cleared materially. The Van Nortwick collapse had no disturbing influence on the local situation. W. A. Paulsen, who was the principal owner of the failed Central Trust and Savings Bank, filed a bill in the Circuit Court 10-day to restrain the Atlas National Bank from disposing of a note for $30,000 made by him to the bank, and to restrain President Grannis and Charles B. Farwell, a director and exUnited States Senator, from disposing of their own property so that Paulsen cannot collect any of the damages he may be awarded at the trial of his suit for $250,000 against the bank. Grannis and Farwell in connection with the note, and the closing of Paulsen's bank by the failure of the Atlas to clear for it.
Dime Savings Bank Closed. CHICAGO, Dec. 29.-As a direct result of the retirement of the Atlas National bank, the Dime Saving bank temporarily suspended payments, taking advantage of the 90-day clause. A meeting of the directors will be held during the afternoon to decide upon the bank's future course. The directors of the Dime Savings bank are practically the same as those of the Atlas National.
16.January 2, 1897The IndicatorPueblo, CO
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Article Text
Retiring From Business. Chicago, Dec. 28.-Partly as a result of the failure of the National Bank of Illinois last week. the Atlas National bank began paying off its depositors to-day. thus marking the first step in the retirement of that Institution from business. No deposits were received, and as fast as accounts were checked up depositors were paid in full and their books taken. The Atlas suffered heavily from the runs occasioned by the closing of the National Bank of Illinois. deposits aggregating $900,000 having been withdrawn last week. This and the fact that a gradual shrinkage of deposits extending over a long period of time brought the resources of the institution down to a low figure, and It was decided to retire from business.
17.January 2, 1897The Broad AxChicago, Salt Lake City, IL
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PRÓSPERITY ABROAD. THE way in which the business interests of the United States are recuperating, after learning of McKinley's election, is truly astonishing. The following took the situation to heart on the 28th inst., in the manner and form following, that is to say: Superior Bank, of Superior, Wis., failed. George F. Grassel & Co., of Cincinnati, dry goods merchants for twenty years, assigned. White & Howe, retail shoe dealer, of Sioux City, Ia., croaked. The Stetson & Post Sawmill Co., of Seattle, Wash., closed, throwing seventy men out of employment. And on the 29th inst., it came to pass, as follows, that is to say: The Columbia Bank, of Minneapolis, failed to open its doors. The Washington Bank, of the same place, flunked. Commercial Bank, of Roanoke, Va., followed suit. Farmers' Trust Co., of Sioux City, Ia., busted. Adolph Scheyer & Co., of Leadville, Colo., a wholesale liquor house, dried up. Atlas Bank, of Chicago, and the National Bank of Illinois, found themselves short of dough. And the end is not yet.
18.January 2, 1897The Irish StandardMinneapolis, Saint Paul, MN
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Bank Failure. The liquidation of the Atlas National Bank, of Chicago, has precipitated the suspension of the Van Nortwick Bank, of Batavia, Ills., and the assignment of William M. and John S. Van Nortwick of all their vast property interests, aggregating $2,500,000, to the Equitable Trust Company, of Chicago.
THE liquidation of the Atlas National Bank of Chicago has precipitated the suspension of the Van Nortwick Bank and the assignment of William M. and John S. Nortwick of all their vast property interests, aggregating $2,500,000, to the Equitable Trust Company, of Chicago.
20.January 9, 1897The Weekly IntelligencerLexington, MO
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Article Text
another Mank Falls. CHICAGO, Die. 20 - As a result of the retirement of the Atlas national bank the Dime savings bank temporarily suspended payments. The directors of the Dime savings bank are practically the same as those of the Atlas natonal
21.January 10, 1897The Salt Lake HeraldSalt Lake City, UT
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DIME SAVINGS BANK. Will Doubtless Go Out of Existence Ver Soon. Chicago, Jan. 9.-According to a morning paper the Dime Savings bank, the oldest exclusive savings bank in Chicago, will go out of existence before the expiration of the 90 day notice, which has been required on depositors since the suspension of the Atlas National bank. Edwin Walker, the attorney representing the stockholders and directors,
22.August 4, 1898The Indianapolis JournalIndianapolis, IN
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Obituary. CHICAGO, Aug. 3.-W. C. D. Grannis, for many years one of the leading bankers of this city, died to-day. He was president of the Atlas National Bank, which suspended in 1896, paying, however, all depositors in full.
23.August 12, 1898The Virginia EnterpriseVirginia, MN
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Death of Banker Grannis. Chicago, III., Aug. 4.-W. C. D. Grannis, for many years one of the leading bankers of this city, is dead. He was president of the Atlas National bank, which suspended in 1896, paying, howover, all depositors in full.
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.
