gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b23a8d1c60abc28c
Response Measures
Accommodated withdrawals, Public signal of financial health, Partial suspension, Full suspension, Books examined
Other: Receiver appointed by the Comptroller and receiver’s report of assets/liabilities; stockholders proposed issuing time certificates to depositors (rescheduling) as the remedy.
Receivership Details
Date receivership started
1893-08-05
Date receivership terminated
1894-03-26
OCC cause of failure
Losses
Description
Receivership was appointed after suspension (Aug 5, 1893) but the bank later reopened (Mar 24, 1894).
Events (8)
1.July 1, 1886Chartered
Source
historical_nic
2.July 28, 1893Run
Cause
Local Banks
Cause Details
Withdrawals driven by panic following suspensions of Helena banks (reports cite 'owing to the Helena bank suspensions')
Measures
Local merchants agreed to accept bank certificates at face value to stem withdrawals
Newspaper Excerpt
the panicky people had done their worst when they forced the First National to close
Source
newspapers
3.July 28, 1893Suspension
Cause
Local Banks
Cause Details
Suspended payments citing the Helena bank suspensions as the immediate trigger
Newspaper Excerpt
The First National bank of this city suspended payment this morning.
Source
newspapers
4.August 5, 1893Receivership
Source
historical_nic
5.August 5, 1893Receivership
Newspaper Excerpt
Comptroller Eckles has appointed Gold T. Curtis receiver of the First National bank at Great Falls, Mont.
Source
newspapers
6.August 19, 1893Other
Newspaper Excerpt
Resident stockholders have made a proposition to issue time certificates to depositors, payable in twelve... to relieve the situation; depositors will probably accept.
Source
newspapers
7.March 24, 1894Reopening
Newspaper Excerpt
The First National bank, which closed its doors during the panic, will open for business again on Monday morning next.
Source
newspapers
8.March 26, 1894Restored To Solvency
Source
historical_nic
Newspaper Articles (23)
1.October 15, 1892Red Lodge PicketRed Lodge, MT
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Article Text
HE IMPORTED "SCABS." Union. Collins Antagonizes the Carpenters' Falls Leader, October 3: "Did Great notice," said a member of the Tribune Carpenters' you union, "that Sunday's honor that T. E. Collins is only an Canada says director in the Great Falls & re ary and therefore not in any way sponsible road for the wholesale employment law OD alien labor in violation of the of that road, of which he is vice presiden' That is American representative? and slim way to dodge the responsi be will pretty attaching to him. Perhaps of the bility that he is honorary president not resay First National bank and therefore about spousible for the attempt made workmonths ago to defraud union eight by introducing "scab" carpenters of from men Minueapolis to take the place on the union labor in the finishing work Tim may First National bank building. not be an 'honorary' vice presi- is or may of the Lethbridge road. There dent doubt in the minds of the members being little of the Carpenters' uniou about his far as 'onery' president of a bank, so goes an his treatment of organized labor that me give you the history of union affair Let and you will see that the men have no cause to love him." by "The Townsite First National company, bank and was the built First the National bank of which T. E Collins, democratic candidate for governor is and the the proprietor of the Tribune, built president, being a home enterprise the parties equally interested in pros- and by of the town, it was expected promised per that it would be constructed and of home material 88 far as possible, in home labor, and this policy was when by carried out for a while. But in the fact finishing work came to be done dethe early part of this year a new this parture was taken, and while up to date only bome labor had been employed contract living Montana wages, this the let to a Minneapolis man by lot was of Alexander, who imported a of name non-union "scabs" from Minneapolis Great to do the work, thus depriving Falls workmen of the job. "The Carpeuters' union here took union the matter up and at a meeting of the Mr. appointed a committee to wait on Collins and the owners of the building should and request that only union men only be employed and union wages should be paid on the building. They Mr. met with the statement from his Collins were that the matter was beyond How control, as the contract was let. effective the union had a very a 11 ever. method of bringing the bank president time, and after a few of the leading with to round not pay bank he concluded that it would and t monkey with the labor buzz saw, that 11 found to a way to arrange matters so D labor was thereafter employed. declared union boycott which had been withdrawn. The the bank was then negoagainst is fair to say that during these the tiatious It Mr. Collins proved himself uncompromising enemy of organized officers of while some of the other secure labor, bank did what they could to c i a the satisfactory solution of the trouble. 1 "It is also true that before Mr. Collins concluded that is was possible to work employ at organized labor on the finishing he First National bank building went the personally and tried to induce some, to least, of the other banks in the city combine at with him in a crusade against reunion and defeat its purpose by from the fusing to take deposits withdrawn boyK the First National on account of the cott and failed in his efforts. o t "When the whole story of T. E. labor Cole record in connection with the inter g lins' is known it will makea very in unions contribution to the political in a esting famy literature which is now running the Tribune' " i
2.July 29, 1893The HeraldLos Angeles, CA
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Article Text
A Great Falls Bank Fails. GREAT FALLS, Mont, July 28.-The First National bank failed this morning owing to the Helena bank suspensions. The assets are much above the liabilities. It is believed it will soon resume. The bank has a capital of $250,000; deposits about $650,000.
3.July 29, 1893The Morning NewsSavannah, GA
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Article Text
A Failure at Great Falls. Great Falls, Mont., July 28.-The First National Bank of this city suspended payment this morning.
4.July 29, 1893The Salt Lake HeraldSalt Lake City, UT
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Article Text
A Montana Bank Closed. GREAT FALLS, Mon., July 28.-The First National bank failed this morning, owing to the Helena bank suspensions. The assets are much above the liabilities. It. is believed it will soon resume. The bank has a capital of $250,000; deposits about $650,000.
5.July 29, 1893The Seattle Post-IntelligencerSeattle, WA
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Article Text
A Great Falls Bank Suspends. GREAT FALLS, Mont., July 28.-The First National bank failed this morning, owing to the Helena bank suspension. The assets greatly exceed the liabilities, and the bank will soon resume.
6.August 2, 1893The StarReynoldsville, PA
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Article Text
FINANCIAL AND COMMERCIAL. At Portland, Ore., the Union Banking Company suspended. At Ellensburg, Wash,, the Ellensburg National bank suspended. At Chamberlain, D. N., the Chamberlain National Bank failed. At Sparta, Wis., the M. A. Thayer bank and the Bank of Sparta, both supposed to be solvent, closei Thursday. At Great Falls, Mont., the First National bank, with a capital of $200,000, suspended.
7.August 4, 1893The Weekly TribuneGreat Falls, MT
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Article Text
IT was plain to everybody that there was a more confident and settled feeling in this city than there had been for several days previous. The panicky people had done their worst when they forced the First National to close, and when the announcements came out in THE TRIBUNE that a number of local merchants were prepared to accept all certificates of the bank that were offered, at their face value, many of the "hoodood" depositors who had caused the drain of the bank, wished they had been more wise, and wondered why they had made such a foolish mistake. There was a general appearance of activity throughout the city, and business in the stores is improving despite the warm weather. Great Falls is all right and her people know it.
8.August 4, 1893The Hickman CourierHickman, KY
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Article Text
A Montana Bank Suspends. GREAT FALLS, Mont., July 29.-The First national bank of this city sus pended Friday morning, owing to the Helena bank suspensions. Assets are much above liabilities, and it is be lieved it will soon resume.
9.August 5, 1893Evening StarWashington, DC
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Article Text
Bank Receivers Appointed. The controller of the currency today ape pointed receivers of insolvent national banks a follows: John S. Lawrence, receiver Northern Na tional Bank of Big Rapids, Mich. Gold T. Curtis, receiver First National Bank of Great Falls, Mont.
10.August 5, 1893Deseret Evening NewsSalt Lake City, UT
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Article Text
Receiver Appointed. WASHINGTON, Aug. 5.-Comptroller Eckles has appointed Gold S. Curtis receiver of the First National bank at Great Falls, Mont.
11.August 6, 1893The Salt Lake HeraldSalt Lake City, UT
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Article Text
Receiver Appointed. W ASHINGTON, Aug. 5.-Comptroller Eckles has appointed Gold S. Curtis receiver of the First National bank at Great Falls, Mon.
12.August 20, 1893The Helena IndependentHelena, MT
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Article Text
Good News from Great Falls. Special to The Independent. GREAT FALLS, Aug. 19.-Merchants and business men generally are encouraged by the prospects of the First National bank resuming. Receiver Curtis' report gives assets, including stockholders' liabilities. at $1,337,140. liabilities at $761,357. Resident stockholders have made a proposition to issue time certificates to depositors, payable in twelve. fifteen, eighteen. twenty-one and twenty-four months. equal installments. This is most likely to be accepted and will relieve the situation in great degree.
13.August 20, 1893The Seattle Post-IntelligencerSeattle, WA
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Article Text
A Montana Bank Preparing to Resume. GREAT FALLS, Mont., Aug. 19.-[Special.] -Gold T. Curtis has been appointed receiver of the First National bank, which suspended in July. He has madea statement showing the assets, inclusive of the stockholders' liabilities, as $1,377,140, with liabilities of $761,357. At a meeting of the resident stockholders a proposition was made to the depositors to take time certificates payable in five equal installments, twelve, fifteen, eighteen, twenty-one and twenty-four months from date. The depositors will probably accept.
14.August 21, 1893Deseret Evening NewsSalt Lake City, UT
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Article Text
Will Resume. GREAT FALLS, Mont, Aug. 19.The First National bank of this city will probably resume. PUEBLO, Colo., Aug. 19,-Bank Examiner J. Sanborn today gave permission to the Central National bank, which suspended July 15th, to resume business Monday morning. The American and Western National banks, which suspended the same day, received permission from Comptroller Eckels to resume.
15.October 13, 1893The Weekly TribuneGreat Falls, MT
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Article Text
NOTICE is hereby given to all persons who may have claims against the First National of Great Falls, Montana, that the same must be presented to Gold T. Curtis, receiver. with the legal proof thereof, within three months from this date or they may be disallowed. Great Falls, Sept. 7. 1893. GOLD T. CURTIS. Receiver.
16.October 20, 1893The Weekly TribuneGreat Falls, MT
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Article Text
OTICE is hereby given to all persons who N may have claims against the First National Bank of Great Falls, Montana, that the same must be presented to Gold T. Curtis. receiver. with the legal proof thereof. within three months from this date or they may be disallowed. Great Fails, Sept. 7. 1893. GOLD T. CURTIS, Receiver.
17.October 27, 1893The Weekly TribuneGreat Falls, MT
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Article Text
OTICE is hereby given to all persons who N may have claims against the First National Bank of Great Falls, Montana, that the same must be presented to Gold T. Curtis, receiver, with the legal proof thereof, within three months from this date or they may be disallowed. Great Fails, Sept. 7. 1893. GOLD T. CURTIS, Receiver.
18.March 25, 1894Omaha Daily BeeOmaha, NE
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Article Text
Great Falls Bank Resumes. GREAT FALLS, Mont., March 24.-The First National bank, which closed its doors during the panic, will open for business again on Monday morning next.
19.March 25, 1894The Morning CallSan Francisco, CA
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Article Text
Recovered From the Panic. SALT LVKE, March 24.-A special from Great Falls, Mont., to the Tribune says: The First National Bank, which closed its doors during the panic. will open for business again on Monday morning next.
WILL REOPEN TOMORROW. SALT LAKE City, March 24.-A special from Great Falls, Montana, to the Tribune says the First National bank. which closed its doors during the panic, will open for business again on Monday morning next.
21.March 25, 1894St. Paul Daily GlobeSaint Paul, MN
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Article Text
A Great Falls Bank Opens. GREAT FALLS, Mont., March 24.The doors of the First National bank in this city, which closed during the panie, will open for business Monday morning. New officers elected this afternoon are as follows: President, A. M. Scott; vice president, J. T. Armington; casnier, Gold T. Curtiss. The First National did a larger business than any other bank in Northern Montana before its suspension.
22.March 26, 1894New-York TribuneNew York, NY
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Article Text
A MONTANA BANK TO REOPEN. Great Falls, Mont., March 25.-The doors of the First National Bank of this city, which closed during the panic, will open for business Monday morning. The new officers are as follows: President, A. M. Scott; vice-president, J. T. Armington; cash. ier, Gold T. Curtis.
E. W. PALUTZKE, Plaintiff, versus GEORGE H. ROWLEY and MARY ROWLEY, his wife, J. W. McKEE, FIRST NATIONAL BANK OF PLENTYWOOD, MONTANA, a corporation, and H. A. STREETER, Receiver of the FIRST NATIONAL BANK OF PLENTYWOOD, MONTANA, and the FIRST NATIONAL BANK, GREAT FALLS, a corporation, Defendants.
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.
