First National Bank (Douglas, WY)

Episode Information

Episode UID
355601488
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
35560 national
Charter Number
3556
Start Date
December 13, 1923
Location
Douglas, Wyoming (42.760, -105.382)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
807fdaf2db98f5f1

Response Measures

Capital injected, Full suspension, Books examined

Description

Bank consolidated with Commercial Bank & Trust in Dec 1923; merged institution closed in January 1924 amid withdrawals and fraud allegations.

Events (7)

1. September 13, 1886 Chartered
Source
historical_nic
2. December 13, 1923 Other
Newspaper Excerpt
Negotiations for the consolidation of the First National Bank and the Commercial bank and trust company of Douglas have been under way... will begin doing business under the name of the Commercial Bank and Trust Company next Monday morning.
Source
newspapers
3. December 15, 1923 Voluntary Liquidation
Source
historical_nic
4. January 18, 1924 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals by depositors triggered by discovered misstatements/fraud in bank's accounts.
Measures
None mentioned; merged bank was closed and examiners took charge.
Newspaper Excerpt
The primary cause of the bank's failure was first attributed to heavy withdrawal of funds by depositors.
Source
newspapers
5. January 18, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure following consolidation amid discovered falsified statements and confusion in accounts.
Newspaper Excerpt
The merged banks were closed last week and the affairs are now in the hands of the examiner.
Source
newspapers
6. January 25, 1924 Other
Newspaper Excerpt
A warrant had been issued for the arrest of C. D. Zimmerman, cashier of the First National bank of Douglas... Zimmerman is charged with defrauding the bank.
Source
newspapers
7. July 31, 1924 Other
Newspaper Excerpt
D. A. Randall and C. D. Zimmerman... were convicted by a jury in federal court at Cheyenne of falsification of statements to the comptroller of the currency.
Source
newspapers

Newspaper Articles (4)

Article from News Letter Journal, December 13, 1923

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Article Text

TWO BANKS AT DOUGLAS CONSOLIDATE RESOURCES Negotiations for the consolidation of the First National Bank and the Commercial bank and trust company of Douglas have been under way for some time. The preliminary step have been completed, and the two institutions will begin doing business under the name of the Commercial Bank and Trust Company next Monday morning.


Article from Rawlins Republican, January 3, 1924

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Article Text

Wyoming Weekly Industrial Review Country enters upon the new year with fair prospects in nearly all lines of industry-production of coal, oil, lumber and steel on fair levels and building operations pushing well into the winter-Unem ploy ment: not large. Douglas -- First National Bank consolidated with Commercial Bank and Trust company under name of Commercial Bank and Trust company. Laramie-State university to have petroleum research laboratory established by federal government. In 1923 Wyoming raised ten times as much corn as in any previous year. Lovell-Construction of new armory progressing steadily. Worland-First state corn show closes as unqualified success. Laramie- Empire Platinum Mining Co. incorporate with capital of $100,000, to work in platinum lead opened by Jacob Schnitzler. Casper-Foundation laid for new $150,000 Presbyterian church. Buffalo- Tarrant Company running casing in test well near town, gas pockets discovered. State mining congress to be assembled in near future to promote mining industry. Salt Creek-Ohio Oil Co. completes two new producers in local field. Casper-Building permits issued in November totaled 134, with aggregate value of $309,615. Newcastle-Construction of perm-


Article from Casper Star-Tribune, January 25, 1924

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Article Text

CHEYENNE, Wyo., Jan. 25.—(Special to The Tribune).—United States Attorney Albert D. Walton announced today that a warrant had been issued for the arrest of C. D. Zimmerman, cashier of the First National bank of Douglas, Wyo., which institution was merged recently with the Commercial Bank & Trust company of Douglas. The merged banks were closed last week and the affairs are now in the hands of the examiner. Zimmerman, the federal attorney stated, is charged with defrauding the bank. D. A. Randall, formerly president of the First National bank of Douglas, was arrested in Denver yesterday. Examiners have been working on the books since the closing of the Commercial on January 18. Much confusion existed in these accounts, it is said, by reason of the consolidation. The primary cause of the bank's failure was first attributed to heavy withdrawal of funds by depositors. Two hundred thousand dollars had been


Article from The Filer Record, July 31, 1924

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Article Text

# TELEGRAPHIC TALES FOR BUSY READERS A RESUME OF THE WEEK'S DOINGS IN THIS AND OTHER COUNTRIES Important Events of the Last Seven Days Reporte by Wire and Prepared for the Benefit of the Buay Reader WESTERN Four persons were killed almost instantly when the new cabin monoplane California crashed to the ground at a commercial airport at Los Angeles after beginning an exhibition in the presence of hundreds of spectators. Charles Jackson, 5, died at Rock Springs, Wyo., two hours after he was struck by an automobile driven by Victor Nurmi. The boy was horribly mangled. Nurmi was drunk when arrested after attending a picnic at Green River, officers say. Feeling is running high, both against Nurmi and against existing liquor conditions. In a packed auditorium at Albuquerque, N. M., Carl S. Magee, editor of the State Tribune, delivered an address in which he brought in his trials and convictions for libel and contempt of court and reiterated his challenge to Judge David J. Leahy to meet him "any time, anywhere on neutral grounds." California is now ahead of every other state in the union in number of motor vehicles registered. The state division of motor vehicles has figures showing a gain in registration in California of 84,000, while New York shows a reported loss of about 45,000. Since July 1 California's registrations have jumped to 1,197,077, and the fall months are expected to bring heavier gains. Coal dust explosions of unusual size and importance are being planned for August 9 at Rock Springs, the date the Wyoming's first-aid and mine-rescue contest and the final day of the summer meeting of the Rock Mountain Coal Mining institute, according to K. L. Marshall, bureau of mines safety engineer, who is planning these demonstrations. D. A. Randall and C. D. Zimmerman, respectfully president and vice-president of the closed First National bank at Douglas, Wyo., were convicted by a jury in federal court at Cheyenen, Wyo., of falsification of statements to the comptroller of the currency concerning the condition of the four courts of an indictment returned by the May grand jury. Dr. Wiley M. Cragun, Ogden, Utah physician, was arrested upon a warrant charging him with performing an illegal operation upon a woman. He was released upon $2000 bond, fixed by City Judge D. R. Roberts. The bail bond was signed by Charles T. Jones and H. S. Ensign. GENERAL For the first time in history of the city of New York a woman—Magistrate Jean H. Norris—presided in homicide court. She disposed of three cases, holding one man for the grand jury and dismissing two others. She indicated after the session that she was being considered as the successor to Judge George W. Olvany recently elected Tammany chieftian, the court of general sessions. Supreme Court Justice Burr denied motion of Eamon de Valera and Stephen O'Mara as trustees of $2,-000,000 received at New York from the sale of Irish Republican bonds, for an order enjoining the Irish Free State from proceeding with the trial of a suit for that amount before the high court of justice in Ireland. A statement declaring that the 2,000,000 farmers' grain and elevator corporation, with headquarters in Chicago, which was recently incorporated in Illinois is a "gigantic attempt to fool the farmer" was issued in Oklahoma City by Carl Williams, president of the National Council of Farmers' Cooperative Market Associations. Pierrepont B. Noyes, who was Ireland commissioner for the United States has predicted the doom of the Dawes report and continued dead-lock between France and Germany unless the United States representative at the coming conference of premiers in London is instructed by the government to inform France that the United States desires that country to give up its "independent policy" in the Ruhr.