First National Bank (San Bernardino, CA)

View Charter #3527 on SPMC View balance sheet

Episode Information

Episode UID
352701122
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
35270 national
Charter Number
3527
Start Date
June 19, 1893
Location
San Bernardino, California (34.108, -117.290)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
05b6011a1f79f503

Response Measures

Accommodated withdrawals, Public signal of financial health, Full suspension, Books examined

Receivership Details

Depositor recovery rate
65.8%
Date receivership started
1895-01-29
Date receivership terminated
1904-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
18.5%
Share of assets assessed as doubtful
62.9%
Share of assets assessed as worthless
18.5%

Events (6)
1. July 3, 1886 Chartered
Source
historical_nic
2. June 19, 1893 Run
Cause
Local Banks
Cause Details
Contagion from run and closure of the Farmers' Exchange Bank in San Bernardino triggered heavy withdrawals from other local banks.
Measures
Bank fortified itself and displayed an unusual amount of gold and currency on counters to meet demands.
Newspaper Excerpt
The First National bank of San Bernardino ... this morning numerous small depositors were seen drawing their cash.
Source
newspapers
3. June 23, 1893 Other
Newspaper Excerpt
The comptroller of the currency has ordered Bank Examiner Cleary to take charge of the First National bank ... The bank will reopen this morning / authorized to reopen later by Comptroller Eckels (July).
Source
newspapers
4. June 23, 1893 Suspension
Cause
Local Banks
Cause Details
Unable to meet unusual withdrawals caused by local contagious panic following other bank failures; posted notice to depositors and closed doors.
Newspaper Excerpt
The First National bank closed its doors today after undergoing a run for the past five days.
Source
newspapers
5. July 21, 1893 Reopening
Newspaper Excerpt
The First National bank ... reopened its doors for business. ... over $100,000 in gold was displayed; less than $50 had been paid out to depositors and $12,412 had been taken in.
Source
newspapers
6. January 29, 1895 Receivership
Source
historical_nic

Newspaper Articles (16)
1. June 20, 1893 The Herald Los Angeles, CA
Article from The Herald, June 20, 1893

Click image to open full size in new tab

Article Text

RUNS ON OTHER BANKS. A Small Panic at San Bernardino-The Farmers' Exchange Failure. SAN BERNARDINO, June 19.-[By the Aesociated Press.]-The rush af depositors who drew their money out of the Farmers' Exchange bank last week, causing it to close its doors, has to some extent infected depositors of other banks. This morning numerous small depositors were seen drawing their cash. but the banks were fully prepared to meet every demand. The First National bank of San Bernardino and the San Bernardino National had been fortifying themselves for some time, and today displayed an unusual amount of gold and currency on their countere. Large depositore are not drawing their money, and the bankers wore a confident air this morning. In accounting for the run on the Farmers' Exchange bank, an institution unquestionably sound financially, meas. ared by the usual standards of banking, followed as it was by disastrous results, attention has been called to the fact that over $100,000 has been withdrawn from circulation here by visitors to the world'a fair within a few weeks. The Farmers' Exchange bank and the savings bank of San Bernardino were practically owned and conducted by the same men. The directors are now preparing a statement of their actual condition, which will be made public tomorrow. One of the directors of the Farmers' Exchange bank, when asked how soon the bank would resume business, stated this morning that it was impossible to set a time, owing to the difficulty in realizing on securities in the money centers. That the bank will resume is generally believed by those acquainted with its affairs,

2. June 24, 1893 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, June 24, 1893

Click image to open full size in new tab

Article Text

Another Bank Goes. SAN BERNARDINO, Cal., June 23-The First National bank closed its doors to. day after undergoing a run for the past five days.

3. June 24, 1893 The Morning News Savannah, GA
Article from The Morning News, June 24, 1893

Click image to open full size in new tab

Article Text

A Bank Closed at San Bernardino. Sanbernardino, Cal., June 23.-The First National bank closed its doors today after undergoing a run for the past few days.

4. June 24, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 24, 1893

Click image to open full size in new tab

Article Text

EXHAUSTED FUNDS. Another Bank in San Bernardino Suspends. SAN BERNARDINO, June 23.-The First National Bank of San Bernardino, which has withstood the run for the last five days with such fortitude, was to-day compelled, shortly after having opened its doors, to post the following notice to depositors and to close its doors: "Owing to the stringency of the money market and the unusual withdrawal of

5. June 24, 1893 The Sun New York, NY
Article from The Sun, June 24, 1893

Click image to open full size in new tab

Article Text

STANFORD AVERTED A PANIC. The Dead Senator's Last Service to Call. fornia Business Men. SAN FRANCISCO. June 23.-The closing of the Pacific Bank and the People's Home Savings Bank this morning caused some excitement. but the only serious run was on the San Francisco Savings Union. which. however, paid all depositors who asked for less than $1,000. Those who wanted more had to give thirty days' notice. The commercial banks have been heavily fortifled within the last three days. as they have been able to draw money from the Sub-Treasury against balances in New York. This privilege. which saved San Francisco from a panic, was the last service rendered by Senator Stanford. He made a personal appeal by telegraph to President Cleveland on June 20, and Mr. Cleveland at once ordered Secretary Carlisle to receive gold certificates as convertible currency at the New York Sub-Treasury and permit the payment in like amounts at the San Francisco Sub-Treasury. This saved transportation that would have consumed six days. Had Mr. Stanford not interfered the banks here would have been caught with small reserves. and a disastrous panic would have resulted. Conservative bankers express little hope of the resumption of the Pacific Bank It is involved in too many speculative schemes on which no money can be realized for years. if at all. On top of about three millions scattered among California schemes. the bank has borrowed $400.000 from New York banks. and it owes considerable on foreign certificates of deposit. These certificates are issued in New York, and interest is paid on coupons. The small schemes. running from $10.000 to $50,000 on which the bank has lost money. are counted by the dozen. The People's Home Savings Bank will pull through. as several of the directors are rich men. and R. S. McDonald of the Pacific Bank to-day transferred to them the Pacific Bank building. worth $200,000. his residence. and other valuable real estate, and reports from Southern California show better feeling. but in San Bernardino the First National Bank closed after a severe run of five days.

6. June 24, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, June 24, 1893

Click image to open full size in new tab

Article Text

CONDENSED DISPATCHES. Robert Wingate has been appointed receiver of the Merchants' National bank. of Tacoma. The Bank of Maders, Cal, of which D. M. Tombila is president and J. E. Newman cashier, failed to open its doors Friday. The comptroller of the currency has ordered Bank Examiner Cleary to take charge of the First National bank. of Whateom. The Cataract bank, of Niagara Falls, the larg. est in the city, failed Friday with $70,000 deposita P. A. Porter is president and Delancey Rankine cashier. The First National bank. of San Bernadino, Cal., of which Joseph Brown is president and a H. Kohl cashier, suspended on June 23 after withstanding a fire days' run. The bank will reopen this morning. The State Bank of Minneapolis, with $100,000 capital, $6,000 surplue and $60,000 deposits, closed its doors on Friday. K. Kortgaard is president and c. A. Biomquist assistant cashier. The depositors are mostly Scandinaviana The People's Home Savings bank, of San Francisco, in consequence of the failure of the Ps. ettie bank, closed its doors on June 23 the two banks being under practically the same management The other commercial banks in the city feel secure and no runs of consequence have been made on them

7. June 24, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, June 24, 1893

Click image to open full size in new tab

Article Text

Stood It Five Days. SAN BERNARDINO, Cal., June 23.The First National bank closed its doors today after standing a run for the past five days.

8. June 27, 1893 The Evening Herald Shenandoah, PA
Article from The Evening Herald, June 27, 1893

Click image to open full size in new tab

Article Text

TROUBLE IN THE BUSINESS WORLD. The Plaquemine Shingle and Lumber Company, of New York, has failed for a large amount. The Columbia Launch Company, operating boats to the World's Fair, has gone into the hands of a receiver. Sheridan & Byrne, builders, of No. 49 Cortlandt street, New York, are in a receiver's hands, with $225,000 liabilities. An attachment for $10,216 has been obtained against David Leon, merchant, at Caracas, Venezuela, by Cadenas & Co., of New York. Abraham Steers, lumber merchant and planing mill man, of New York, has asked for and obtained an extension. Liabilities about $380,000. As heavy indorsers for the Crane Lumber Company, Samuel W. Coffin & Sons, owners of the Cincinnati, O., dry docks Company, have assigned. By acknowledging the deed of the Supple estate to Colonel F. G. Hooton, of West Chester, the sheriff put the Colonel in shape to pay all his debts. The Howard bank, of Cartersville, Ga., the largest town between Atlanta and Chattanooga, suspended payment owing to the withdrawal of funds by depositors. The comptroller of the currency was informed of the failure of the First National Bank of San Bernardino, Cal., and of the Columbia National bank, of New Whatcom, Wash. George W. Kyper, proprietor of the St Cloud hotel, at Bellwood, Blair county, has failed. The liabilities will exceed $30,000, and his creditors will, it is believed, receive about fifty cents on the dollar. The Bank of Sumter, at Americus, Ga., declined to receive deposits or pay checks. Its to leged, correspondent refused in extend New York, the usual it is time alloans after promising, it is claimed, to do so. Isaac Weatherby, president of the Saxony Woolen Company, at Trenton, N. J., has applied for the appointment of a receiver, and Watson H. Linburg, of Philadelphia, was named to wind up the affairs of the concern. Philadelphia executions on judgment notes were issued as follows: William Alvin against Elizabeth Naegele, $2,500; Mrs. in against E. Naegele & Co., ate L. Marshall against the Mrs $1,JOU, same, $5,000. Inability to realize on gilt edged securities forced the Columbia National bank, of New Whateom. Wash., to close its doors The assets are $297,000 and the liabilities not over $100,000.

9. June 30, 1893 Idaho County Free Press Grangeville, ID
Article from Idaho County Free Press, June 30, 1893

Click image to open full size in new tab

Article Text

VARIOUS FINANCIAL MATTERS -Like a Row of Bricks, the Banks Continue to Go Down. MORE MONEY FOR CALIFORNIA BANKS Monetary Troubles at Minneapolis, Niagara Falls, San Francisco, Whatcom and Chicago-Rumor from London. At Niagara Falls. NIAGARA FALLS, N. Y., June 23.-The Cataract bank, the largest in the city, has failed unexpectedly, owing to inability to get expected aid. It has $70,000 deposits. It is believed that the bank will not be able to resume. One at San Francisco. SAN FRANCISCO, June 23.-The Peo ple's Home savings bank closed its doors this morning. It affiliated with the Pacific bank, which closed yesterday. Its resources are said to far exceed its I liabilities. At San Bernardino, Oal. SAN BERNARDINO, Cal., June 23.-The First national bank of San Bernardino, which has withstood a run lasting for the last five days, was today compelled to close its doors temporarily. More Money for California Banks. NEW YORK, June 23.-Currency ship@ ments to San Francisco will be very g large again today. Telegraphic transfers at the sub-treasury will certainly reach yesterday's figures. At Madera, Cal. MADERA, Cal., June 23.-The Bank of Madera failed to open its doors this morning. This notice was on the door: "Temporarily suspended. Depositors will be paid in full." At Minneapolis. MINNEAPOLIS, June 23.-The state bank of Minneapolis, having a capital of $100,000 and a surplus of $60,000, closed its doors this morning. Average deposits, $480,000. Rumor From London. LONDON, June 23.-It is rumored that the Hirschell committee proposes to close the Indian mints, conditioned on a repeal of the Sherman act. At Whatcom, Wash. WASHINGTON, June 23.-Comptroller Eckels has ordered Bank Examiner Cleary to take charge of the Whatcom, Wash., bank. A Chicago Clothing House. CHICAGO, June 23. -Friedmann - & Friedmann, wholesale clothing, have failed. Assets and liabilities $92,000 each. Dave Hill for Free Coluage. I NEW YORK, June 23.-Senator David B. Hill has come out in favor of free bimetallic coinage.

10. June 30, 1893 Griggs Courier Cooperstown, ND
Article from Griggs Courier, June 30, 1893

Click image to open full size in new tab

Article Text

controversy over the opening and closing of the world's fair on Sunday is ended so far as his department is concerned. THE store of Charles Piellas in Lansing, Mich., was robbed by two men of diamonds valued at $160,000. A CYCLONE swept for fifty miles across the counties above Atlanta, Ga., wrecking many buildings and ruining crops. FAILURES were reported of the Columbia bank at New Whatcom, Wash., State bank at Minneapolis, Minn., First national bank at San Bernardino, Cal., People's home savings bank at San Francisco and the Cataract bank at Niagara Falls, N. Y. THE business part of the village of Mount Sterling, O., was destroyed by fire. LEROY PAYNE, one of Chicago's oldest liverymen, failed for $250,000. THE maple sugar crop of Vermont the past season was 5,759,762 pounds, and the bounty will be $70,000. THE new directory of Brooklyn. N. Y., gives that city a population of over 1,000,000. PRINCESS EULALIA sailed from New York on the steamer La Touraine for Spain. THE business portion of Leonardsville, Kan., was destroyed by fire. THE well-known stallion Arrival, record 2:241/2, for whom his owners refused $15,000, died at Gardiner, Me. THIRTEEN contract laborers who arrived in New York from Germany were told that they must return on the same steamer.

11. July 20, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 20, 1893

Click image to open full size in new tab

Article Text

AWAITING THE WORD. A National Bank Ready to Open Its Doors. SAN BERNARDINO, July 19.-James B. Lazoar of Denver and William B. Wightman of San Francisco, national bank examiners, who have for some days past been looking into the affairs of the First National Bank of this city, have made their report to Comptroller of the Currency James H. Eckels, recommending that the bank be allowed to open at once. They state that they find the affairs of the bank in good condition, and there was no reason why the run should have been made upon it. It is stated that Eckels is in New York on official business. and as soon as he can be reached and his consent obtained the bank will open its doors with about $90,000 in hard coin on hand.

12. July 21, 1893 Evening Star Washington, DC
Article from Evening Star, July 21, 1893

Click image to open full size in new tab

Article Text

National Bank Matters. The controller of the currency today appointed Mr. John P. Hopkins of Kensington, Chicago, III., receiver of the Chemical National Bank of Chicago, III. The controller has been advised that the First National Bank of Cheyenne, Wyo., has closed its doors to business, The controller of the currency has authorized the First National Bank of San Bernardino, Cal., and the First National Bank of Santa Ana, Cal., to reopen their doors for business, These banks have complied with the requirements imposed by the controller and are reported by the bank examiner to be in satisfactory condition with unimpaired capital. The controller of the currency has ordered a dividend of 30 per cent in favor of the creditors of the Evanston National Bank of Evanston, III. The checks for the payment of the dividend will be distributed on or about August 1 by the examiner at the bank of Evanston. The controller of the currency has been advised that the Farmers' National Bank of Henrietta, Tex., has closed its doors to business.

13. July 22, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 22, 1893

Click image to open full size in new tab

Article Text

A Ban Bernardino Bank Resumes. SAN BERNARDINO, Cal., July 21.Promptly at 10 o'clock this morning the First National bank of this city reopened its doors for business. in accordance with authority granted by Comptroller of the Currency Eckels. At the paying teller's window over $100,000 in gold was dia played, besides n large amount of greenbacks and silver coin. At 11 o'clock less than $50 had been paid out to depositors and $12,412 had been taken in. Not the slightest disposition is manifested among depositors to withdraw their money, but the unusually good feeling prevailing has led many to open new accounts with the bank. Prominent business men are continually dropping in to congratulate the officers of the bank, who wear smiling faces. The craze which led up to the run on the banks here has entirely died out, and there are no indications of a repetition of the past unfortunate experiences.

14. July 22, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 22, 1893

Click image to open full size in new tab

Article Text

WORST IS OVER. Comptroller Eckles Says the Panic Has Petered Out. WASHINGTON, July 21. - -The Comptroller of the Currency is still of the opinion that the worst is over and that the failures represent nothing more serious then temporary inability to pay out unusual sums of money that could have been provided had the panic-stricken stockholders given reasonable notice. The day opened propitiously by instructions to two California national banks, the First of San Bernardino and he First of Santa Ana, to open for business. These banks have complied with the requirements of the law and are reported by the Bank Examiner in a satisfactory condition with unimpaired capital. The offers of silver to the treasury today aggregated 670,000 ounces, at 70 to 71 1/2 cents. Thirty thousand ounces were purchased at 70 cents. The Comptroller has received notice of the failure of the First National Bank of Cheyenne, Wyo., and the Farmers' National Bank at Henrietta, Texas. The Comptroller had advices this afternoon from Cheyenne that the banks there stand firm. The excitement has ended and no more trouble is feared.

15. July 22, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, July 22, 1893

Click image to open full size in new tab

Article Text

Special to the RECORD-UNION. WASHINGTON, July 21.-The Comptroller of the Currency is still of the opinion that the worst is over and that the failures represent nothing more serious than temporary inability to pay out unusual sums of money that could have been provided had the panic-stricken stockholders given reasonable notice. The day opened propitiously by instructions to two California national banks, the First of San Bernardino and the First of Santa Ana, to reopen for business. These banks have complied with the requirements of the law and are reported by the Bank Examiner in a satisfactory condition with unimpaired capital.

16. July 28, 1893 The Durham Daily Globe Durham, NC
Article from The Durham Daily Globe, July 28, 1893

Click image to open full size in new tab

Article Text

IN THESE days of suspensions and failures it is gratifying to note that many of them are due only to temporary embar rassments and that many of the reputed bursted banks are over their trouble and are again doing business. Among those which have re opened during the last few days are: Gate City National Bank, At lanta, Ga.: First National Bank, Los Angeles, Cal.; First National Bank, San Diego, Cal.: First National Bank, Santa Anna, Cal; First National Bank, San Bernardino, Cal: the Southern California National Bank, Los Angeles, Cal: Merchants' National Bank, Fort Worth, Tex.; Second National Bank, Ashland, Ky.; Capital National Bank, Indianapolis, Ind: First National Bank, Palouse City, Wash; Washington National Bank, Spokane Falls, Wash; National Bank of Commerce, Provo City, Utah, and First National Bank, Cisco, Texas.