Deadwood National Bank (Deadwood, SD)

View Charter #3552 on SPMC View balance sheet

Episode Information

Episode UID
355201134
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
35520 national
Charter Number
3552
Start Date
June 11, 1894
Location
Deadwood, South Dakota (44.377, -103.730)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
394bc9326996bac1

Response Measures

None

Events (3)
1. August 30, 1886 Chartered
Source
historical_nic
2. June 7, 1894 Voluntary Liquidation
Source
historical_nic
3. June 11, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure to make money and possession of considerable almost worthless securities; assets and deposits turned over to First National.
Newspaper Excerpt
The Merchants' National and the Deadwood National turned their assets and deposits over to the First National and closed their doors.
Source
newspapers

Newspaper Articles (3)
1. June 12, 1894 The Times Richmond, VA
Article from The Times, June 12, 1894

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Article Text

National Banks Consolidate. DEADWOOD, S. D., June 11.-The consolidation of three national banks of this city was made Saturday, the Merchants' National and the Deadwood National turning their assets and deposits over to the First National and closed their doors. The First National will carry all checks of the old banks, and nobody will lose a dollar by the deal. Failure to make money and the possession of considerable almost worthless securities are assigned as the causes of the closing of the two institutions.

2. June 12, 1894 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, June 12, 1894

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Article Text

National Bank Consolidation. DEADWOOD, S. D., June 11.-The Merchants National and the Deadwood National banks, of this city, have turned their assets and deposits over to the First National Bank and closed their doors. The First, National will carry all the checks of the old banks, and nobody will lose a dollar by the deal. A failure to make money and the possession of considerable almost worthless securities are assigned as the causes of the closing of the two institutions.

3. June 12, 1894 The Morning News Savannah, GA
Article from The Morning News, June 12, 1894

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Article Text

BANKS GO OUT OF BUSINESS. Two Deadwood Institutions Turn Their Business Over to a Third. Deadwood, S.D., June 11.-The consolidation of three national banks of this city was made Saturday. The Merchants' National and the Deadwood National turned their assets and deposits over to the First National and closed their doors. The First National will carry all the hecks of the old banks and nobody will lose a dollar by the deal. Failure to make money and the possession of considerable almost worthless securities are assigned as the causes of the closing of the two institutions.