Whatcom County Bank (Bellingham, WA)

Episode Information

Episode UID
3561930991122
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
356193099 hash
Start Date
June 23, 1893
Location
Bellingham, Washington (48.760, -122.488)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
47be6c575fd59db3

Response Measures

None

Description

Comptroller took charge in 1893; by 1895 the bank is defunct in receivership.

Events (4)
1. June 23, 1893 Suspension
Cause
Government Action
Cause Details
Comptroller ordered a bank examiner to take charge of the Whatcom bank (regulatory intervention).
Newspaper Excerpt
Comptroller Eckels has ordered Bank Examiner Cleary to take charge of the Whatcom, Wash., bank.
Source
newspapers
2. April 13, 1894 Other
Newspaper Excerpt
Waldron ... has disposed of all his interest and good will in said bank to P. E. Dickinson ... he will also close the Bank of Fairhaven, which he established, and will pay depositors in full ... the greater part of the county funds was deposited in his two banks has given rise to many rumors and conjectures as to the cause of the action he has taken . . . the first intimation ... a check ... presented at the Whatcom County bank and payment refused for the time being ... Shortly afterward Mr. Waldron's withdrawal from the banking business was announced .
Source
newspapers
3. May 5, 1895 Receivership
Newspaper Excerpt
William Reilley has filed his report as receiver of the defunct Whatcom County bank and has asked to be discharged. He has collected enough to pay about a third of the bank's liabilities and has joined with creditors in asking for the appointment of L L. Work ... to wind up the institution's affairs.
Source
newspapers
4. August 13, 1895 Other
Newspaper Excerpt
L. L. Work, receiver of the Whatcom County bank, at Whatcom, expects in a few days to pay 35 per cent. of the claims against the bank.
Source
newspapers

Newspaper Articles (4)
1. June 30, 1893 Idaho County Free Press Grangeville, ID
Article from Idaho County Free Press, June 30, 1893

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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.

2. April 14, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 14, 1894

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Article Text

WALDRON'S BANKS IN TROUBLE. The Fairhaven One Closed, That at Whatsom Changes Hands. WHATCOM, April 13.-(Special.]-C W. Waldron, the Fairhaven banker, who established the Whatcom county bank here, after the suspension of all the local banks last summer, has disposed of all his interest and good will in said bank to P. E. Dickinson, who has been associated with him since the bank was started. Mr. Dickinson is one of the pioneer bankers of this county, having been connected with the First bank, of Whatcom, which later became the First National. Mr. Waldron, in positors withdrawing, by securing fully certificates protected of deposit all dein the Bennett National bank for all accounts. He will also close the Bank of Fairhaven, which he established, and which was the first bank there, and will pay depositors in full, having secured certificates on the Citizens' bank for accounts not already closed. The fact that Mr. Waldron is the principal bondsman of the county treasurer and that the greater part of the county funds was deposited in his two banks has given rise to many rumors and conjectures as to the cause of the action he has taken. The first intimation of his intention that the treasurer had was when he was informed today that a check drawn yesterday for $1,000 in favor of W. B. Davey for work on the northeast diagonal road was this morning presented at the Whatcom County bank and payment refused for the time being, Mr. Davey being informed that Mr. Waldron was having some diffculty with the commissioners, which might possibly be settied in a day or two. Shortly afterward Mr. Waldron's with. drawal from the banking business was announced. The difficulty referred to the concern's certificate of deposit issued by Waldron last December in favor of the county treasurer for 20,500, which Waidron claims was merely given to enable the treasurer to make a show of settlement to satisfy the people and the grand jury, and with adistinct understanding that the certificate should he returned. Certificates of the Bellingham Bay National and Bennett National for about $11,000 were given at the same time. Mr. Waldron now demands that his certificate be returned, but the other banks make no such claim, and may they are ready to redeem their certificates in cash whenever presented. The whole amount involved is really about $65,000, as the books of the treasurer show that in addition to the Waldron certificate he had about $45,000 of county money received for taxes in Waldron's two banks. At the time the certificates were issued it was understood that ample security was furnished to the treasurer, which the banks still hold. The commissioners say emphatically that they

3. May 5, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, May 5, 1895

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Article Text

Bellingham Bay News. Whatcom, May -Special.-WIltam Reilley has filed his report as receiver of the defunct Whatoom County bank and has asked to be discharged. He has collected enough to pay about a third of the bank's liabilities and has joined with creditors in asking for the appointment of L L. Work, of the Puget Sound Loan, Trust and Banking Ca., to attend to the remaining collections and wind up the institution's affairs. Eight new applications for resident membership in the Commercial Club were presented to the governing board last night. Each applicant elected is required to pay an entrance fee of $5, and the amount which will be received from the new members will be sufficient to pay all the club's indebtedness and release the incumbrance upon furniture and fixtures valued at over $5,000 The club is fully maintaining its reputation as one of the finest organizations of the kind on the Pacific coast.

4. August 13, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 13, 1895

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Article Text

NORTHWEST NEWS. The Fairhaven Daily News is a corpse. The weekly edition will be continued. The proclamation opening the Nez Perce reservation to settlement will probably be issued this week. Fire at Orting, August 9. destroyed two houses on Kansas avenue, occupied by James Smith and Mr. Hall. Loss, $1,000. L. L. Work, receiver of the Whatcom County bank, at Whatcom, expects in a few days to pay 35 per cent. of the claims against the bank. Jacob S. Metzler, ex-clerk of Island county, died at San de Fuca August 9, aged 64 years. He was the father of J. B. Metzler, of Seattle. William H. Harvey. author of "Coin's Financial School," will visit this state soon, and is expected to deliver several Populist addresses. Curtis Standish, a young man living on the Jim Nixon ranch, seventeen miles southwest of Sprague, was kicked in the stomach by a horse August 3 and lived only a few hours. Fire broke out at Knight's stable, Vernon, B. C., August 8, and spread to Megaw's agricultural implement store. Both were entirely burned down together with Porter Watson's barber shop and Harry Knight's butcher shop. Porter Watson's total loss is $1,500; H. Knight's, $1,500, no insurance; W. R. Megaw's, $3,000, fully insured. The total assessed valuation of Thurston county last year was $6,356,689. This year it is $5,346,744, and the difference, $1,009,945, shows the shrinkage in values in the county for the year. The value of real property in Olympia this year is $1,838,516: in Tumwater $120,318; in Thurston county outside of the towns $2,840,441. making a total of $4,799,275. Last year the real property assessments amounted to $5,737,385, so there has been a decrease since that roll was prepared of $938,110. The dry house at Young Bros'. mill at Whatcom was burned at 6 p. m. Friday last. The mill is run at present by G. W. Bunker, and he had 1,200,000 shingles that went up in the flames. The mill itself was not burned. E. E. Marshall, while trying to save part of the property, had his hand badly singed. The loss of the house and the eight car loads of shingles amounted to $2,500. Emery McGinnis had $900 insurance on the shingles and $900 on the piping and other property. Murderer Symes has employed a Colfax attorney to defend him, and will claim that he killed Conlee in self-defense. The attorney will make a hard fight for a change of venue, and talks confidently of having Symes acquitted. Many other crimes, among them a murder, are now being charged to Symes and his gang, the members of which are scattered all over Whitman, Adams and Lincoln counties. Symes was arrested for horse stealing last winter and tried at Ritzville, the same attorney defending him. He was acquitted, and afterward boasted of it. saying he had many friends who would do all in their power to prevent him paying the penalty for his crimes.