gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
983c1c62cc1f99d5
Response Measures
Borrowed from banks or large institutions, Fed/other loan, Full suspension, Books examined
Receivership Details
Depositor recovery rate
76.0%
Date receivership started
1893-09-02
Date receivership terminated
1904-09-30
OCC cause of failure
Excessive lending
Share of assets assessed as good
30.1%
Share of assets assessed as doubtful
67.9%
Share of assets assessed as worthless
2.0%
Description
Some sources give Aug. 2 closure while one item cites Aug. 12; receivership date 1893-09-02 used per records.
Events (5)
1.December 22, 1886Chartered
Source
historical_nic
2.August 2, 1893Run
Cause
Bank Specific Adverse Info
Cause Details
Sustained heavy withdrawals over months and inability to realize on securities precipitated immediate withdrawals.
Measures
President went to New York to raise money; bank failed to open (suspended) rather than paying out.
Newspaper Excerpt
The El Paso National bank...failed to open for business, due to the heavy withdrawal of deposits for the last six months and inability to realize on securities.
Source
newspapers
3.August 2, 1893Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed/failed to open because of heavy withdrawals and insufficient cash despite resources tied in securities.
Newspaper Excerpt
The El Paso National bank...closed their doors this morning.
Source
newspapers
4.September 2, 1893Receivership
Source
historical_nic
5.September 2, 1893Receivership
Newspaper Excerpt
Receiver Beckham of the El Paso National bank... (receiver references in later articles). Previously reported closed Aug. 2; receiver appointed thereafter by Comptroller/records show Sept. 2, 1893.
"BANK CLOSED." Two Hustilutions Shut for a Time -Assigned. WASHINGTON, Aug. 2.-The comptroller of the currency is informed that the First National bank of Birmingham, Ala., capital $250,000, and the El Paso National bank, El Paso, Tex., closed their doors this morning. These banks carried a heavy line of individual deposits. DENVER, Colo., Aug. 2.-The Denver Safe Deposit and Trustcompanyassigned last evening. Assets, $400,000; liabilities, $100,000. Eastern creditors caused the assignment by pushing the concern.
2.August 3, 1893Rock Island Daily ArgusRock Island, IL
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Financial Trouble at El Paso. EL PAZO, Tex., Aug. 3-The El Paso National bank. of this city, and its branch at Juarez, Mexico. has failed to open for business, due to the heavy withdrawal of deposits for the last six months and inability to realize on securities. The resources are nearly double the amount of liabilities. Runs immediately began on the State and First National banks, but the business men began depositing heavily and the run subsided.
3.August 3, 1893Fort Worth GazetteFort Worth, TX
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AN EL PASO BANK. I EL PASO, Tex., Aug. 2.-(Special.)The El Paso National bank and the Bank of Juarez, a branch of the El Paso National bank, failed to open their doors this morning on account of the continued withdrawal of deposits. President Bronson is in New York, where he went to raise money to tide over the present trouble, but he could not realize on securities. W. H. Austin, the cashier, is the recently elected mayor of the city. and half the city's money and all the county funds are in his bank. The bank has resources to pay all depositors three times over, but had little cash on hand. The closing was expected by the other banks and they were ready for it. There was little excitement and not a single business man drew a dollar from either the State or First National bank on account of the suspension of the El Paso.
4.August 4, 1893The SunNew York, NY
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NEW BANK TROUBLES, Financial Institutions Unable to Bear the Pressure Longer. HELENA, Mont., Aug. 3.-H. A. Marlow has been named by the Comptroller as receiver for the Montana Ntaional Bank, which closed last week. It is believed the bank will pay all depositors in full. DENVER. Aug. 3.--F. W. Popple was yesterday appointed receiver for the Hamilton Loan and Trust Company of this city on the application of Samuel E. Belcher and others, the defendant consenting to the suit. The company was organized under the laws of Nebraska, and has done a large amount of business in that State. Colorado, and Kansas. MILWAUKE, Aug. 3.-Bank Examiner Lynch has finished his examination of the books of the Milwaukee National Bank of Wisconsin, and has forwarded his report to the Comptroller of the Currency. He says the bank is solvent. Mr. Lynch will remain in charge of the bank until it resumes or until it is put into the hands of a receiver for the winding up of its affairs. WASHINGTON, D. C., Aug. 3.-Comptroller Eckels to-day appointed Edward Hawkins of Indianapolis. ex-United States Marshal for Indiana. receiver of the Indianapolis National Bank. which closed its doors to business on July 25. Comptroller Eckels has directed Bank Examiner Carskadon to take charge of the failed First National Bank of Birmingham. Ala. Examiner Rushing. of the failed El Paso, Tex., National Bank. and Examiner Thom of the failed Wamaca. Wis., County National Bank. DENVER. Aug. 3.-William Coleman. a depositor in the suspended People's Savings Bank. has begun suit against the bank. its officers. shareholders. and directors to recover $2,000. which he had on deposit. He also asks for an execution against the bodies of the defendnnts. and that they be placed in jail until judgment shall be obtained and satisfied. Charges of fraud and conspiracy are made against the bank authorities. President Lawrence of the suspended bank is now in New York endeavoring to raise money with which to reopen the institution. STEVENS POINT. Wis., Aug. 3.-After standing an almost continuous run since June 25, during which more than $120.000 was paid out to depositors and certificate holders, the Commercial Bank of Stevens Point closed its doors this morning. The assets are more than $200,000 and the liabilities are less than $100,000. ANTHONY. Kan., Aug. 3.-The Savings Bank of Anthony failed vesterday. The County Treasurer had $14,875 on deposit. LINCOLN. Neb., Aug. 3.-Receiver Hayden of the Capital National Bank has given verbal notice to State Treasurer Bartley that the claims of the State for the amount of its de-
5.August 9, 1893The StarReynoldsville, PA
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Financial and Commercial. The Seven Corners bank at St. Louis, Mo., has assigned. Business at all the New York savings banks was going on as usual Thursday. The excitement is all over. Depositors evidently feel assured tnat their money is perfectly safe. At Naima, Idaho, the First National Bank has failed. The El Paso, Texas, National Bank has suspended. The First National Bank of Birmingham. Ala., has closed. The Waupaca County National Bank of Waupaca, Wis., has closed its doors, During the past three months $3,800,000 worth of fine gold has been received by the Bank of California as the product of California's gold mines and smelters. The decrease of the earnings of the Western railroads for July, as compared with the June earnings, is estimated at $500,000.
6.August 10, 1893The Middleburgh PostMiddleburg, PA
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Financial and Commercial. The Seven Corners bank at St. Louis, Mo., has assigned. Business at all the New York savings banks was going on as usual Thursday. The excitement is all over. Depositors evidently feel assured tnat their money is perfectly safe. At Naima, Idaho, the First National Bank has failed. The El Paso, Texas, National Bank has suspended. The First National Bank of Birmingham. Ala., has closed. The Waupaca County National Bank of Waupaca, Wis., has closed its doors, During the past three months $3,800,000 worth of fine gold has been received by the Bank of California as the product of Cali fornia's gold mines and smelters. The decrease of the earnings of the West ern railroads for July, as compared with the June earnings, is estimated at $500,000.
7.August 12, 1893Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
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TERRITORIAL TIPS. LAS CRUCES LOCALS. Fine melons in the market. By the failure of the El Paso National bank, at El Paso, a loss of more than $1,300 was entailed on one of Las Cruces' citizens. The first grapes shipped from the Mesilla valley on the 25th July, were grown at La Flor del Valle, the ranch of N. Spatcier, esq. One and forty-four hundredths inches of rain fell in the valley during Sunday night's storm. For the past thirty days 3.23 inches of rain fall is recorded. The Rio Grande Republican has been placed under the business management of Mr. Hunt, who will run it in conjunction with the San Marcial Bee; and, under the editorial charge of Judge John R. McFie. Sunday last a flood came down the arroyos. Diverted from its course by the dam east of town, the torrent, which would otherwise have swept westward through our streets, struck the southern suburb of the town, carrying down the dwellings of Mr. John Bumgarden and others, who lost almost entirely their household goods. Acequias south of town were broken and the railroad track, the agricultural college farm, the Ascarate ranch and others were submerged: BAN JUAN ECHOES. A number of the ranchers of the La Plata are harvesting their grain. Saturday morning Mrs. Charles Kennon, of Farmington, departed this life after a short illness of peritonitis. Charles Gross, who has been working a placer prospect on the La Plata near its source, has returned, having abandoned his claim. George West, of Durango, and Robert Roberts, of the La Plata, shipped seventeen car loads of beef steers to Kansas City.
8.August 18, 1893Western LiberalLordsburg, NM
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THOSE TEXAS FELLOWS ALSO KNOW HOW TO RUN A BANK
The president and cashier of the suspended El Paso National bank owe that bank $67,952.35, while they owe the branch bank at Juarez, $30,889.70, making a total indebtedness of those two officials of nearly $100,000.--Albuquerque Citizen.
They were nearly as smooth as our own Charles H. Dane.
9.September 6, 1893Tombstone EpitaphTombstone, AZ
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Judge R. E. Beckham of Fort Worth has been appointed receiver of the El Paso National bank, which closed its doors on the morning of August 2.
10.October 20, 1893Pine Bluff Daily GraphicPine Bluff, AR
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Bank Officials Indicted. EL PASO, Tex.. Oct. 20.-E. B. Bronson, president, and W. H. Austin, cashier of the El Paso National bank, which suspended Aug. 12 last, were indicted by the Federal grand jury. The bond of E. B. Bronson was fixed at $5000, that of W. H. Austin at $10.000. The charge is the misappropriation of the funds of the bank, of making two loans to their wives, one of $5000 to Mrs. Bronson and one of $11,000 to Mrs. Austin.
# Governor Ahumada in El Paso,
El Paso, Tex., Aug. 15.-Governor Alhumada of the state of Chihuahua, Mexico, came up this morning and will spend several days in Juarez. He is looking especially into the affairs of the bank of Juares which closed its doors more than a year ago. The bank was operated by the officers of the El Paso national bank which failed the same day. The bank of Juarez was called a branch of the El Paso national and some of the governor's advisors claim that the receiver of the El Paso national can be made to assume certain debts of the branch. As a matter of fact, no national bank in this country can have a branch in another. The governor will be banqueted tomorrow night.
12.April 1, 1897El Paso Daily HeraldEl Paso, TX
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Receiver Beckham of the El Paso National bank will ask Judge Buckler for leave to sell the remaining assets of the defunct institution. He expec's the sale will add 15 per cent to the 60 percent of the claims against the bank. The judge hinks it about time to close UP the business.
13.April 7, 1897El Paso Daily HeraldEl Paso, TX
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Judge Beckbam, receiver of the El Paso National bank has petitioned the United States court for permission to finally wind up the bank's affairs, and will be given a hearing next Saturday.
14.April 12, 1897El Paso Daily HeraldEl Paso, TX
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The United States court is trying today. two Mexicans charged with counterfeiting. The court is also listening the argument of Judge Beckham, receiver, asking for leave to close up the El Paso's National bank's affairs.
15.May 18, 1897El Paso Daily HeraldEl Paso, TX
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Receiver Beckham resumed the sale of the assets of the El Paso National bank this morning, and is continuing the sale during the day, with satisfactory results.
16.May 20, 1897El Paso Daily HeraldEl Paso, TX
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The sales of the effects of the El Paso National bank were completed last evening, and the total results of the sales will be $24,000, or $735 more than if the court had in the first place allowed the receiver to close up as he desired. One man did not come up with his bid today, SO the matter has been postponed until tomorrow to give him a chance. The man is Esteban Zembrano who bid in for $1,900 a tract in Overland street.
# Deposit Returned.
The El Paso National Bank having gone into the hands of a receiver, the Mexican government has declared the concession granted for the establishment of a branch of the bank named in Ciudad de Juarez of no effect and ordered the return of the deposit made to secure this concession to the receiver of the bank. - Mexican Herald.
COMPTROLLER'S ASSESSMENT. One of the Holders of Stock in the Defunct National Bank Sued. R. E. Beckman, receiver of the El Paso National bank, filed suit in the federal court today against W. H. Long of El Paso to recover $1045, the same being the amount assessed on 55 shares of the stock of the El Paso bank owned by defendant and valued at $19 each by the comptroller of the United States currency. Plaintiff sets forth that the assets of the bank were insufficient to pay the indebtedness, and to cover the deficiency the comptroller of the currency on May 10, 1898 assessed each and all of the stockholders of the bank for the sum, all told, of $28,500. to be paid on or before May 31, 1898. Defendant Long, plaintiff alleges, was assessed the sum of $1045, which he is legally bound to pay, but which has not yet been paid, although be was notified of the assessment when it was made.
19.September 28, 1914El Paso HeraldEl Paso, TX
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14 Years Ago Today From The Herald This Date 1900. Harry Edwards, of the G. H., is on the sick list. Chas N. Grosvenor and wife have returned from Canada. George Langton, of the G. H., left for Ft. Hancock last night. George Lyons went to Cloudcroft yesterday on a trip of business and pleasure. Carl Gaither has returned from Nebraska, where he has been for several months. M. Penharwood, the contractor for the new Masonic temple has let the contract for the iron work to the El Paso foundry. There will be a mass meeting of the young people's religious societies on Thursday night at eight o'clock at the Baptist church. One of the three carrier pigeons released yesterday at Chihuahua by Jerry Wines alighted today at the home of Tom B. Johnson, its owner. Cards have been received in El Paso announcing the wedding of Robert T. Beckham in Marshall, Texas, to Miss Charley Mahone. Mr. Beckham is the son of judge R. E. Beckham, receiver at the old El Paso National bank. Judge Thomas S. Maxey, of the fed-
20.June 3, 1925El Paso TimesEl Paso, TX
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CITY AND COUNTY SUPPORT NEW BANK
Paso National Will Get Public Funds in Defunct Institution.
Organization papers of the new El Paso National bank will be completed and forwarded to the controller of currency In Washington following the arrival today of C. M. Harvey, president of the bank, from Miami, Okla., it was yesterday. At the same time city and county officials their intention of transferring approximately $560,000 in deposits in the defunct National Border bank to the El Paso National bank, which buying the National Border. Officials of the bank said Monday that the opening date of the bank depended upon completion of negotiations for an agreement relative city and county deposits, which must be paid dollar for dollar under the court order authorizing the sale of the bank. Funds Remain. "Although there has been no formal ordered entered by the commissioners' court, the proposition has been discussed informally with individual commissioners, and it is agreed that the county's money will be allowed to remain in the new bank for three years. understand the will make the agreement," said Judge McClintock. "By doing this will get 100 cents on the dollar. would only get about 35 per cent of our deposit. The judge said the county will receive per cent interest on its money. Mayor Jackson said the city would get 2½ per cent, "because we are leaving the new longer than the money in the other banks the city The other banks will pay per cent on city deposits one Bond. "Officials the have agreed give an acceptable personal bond to secure our deposit," the mayor added. The bonds will be filed with the cities and county after the arrival of Pres! dent Harvey. Official action on the will ther. The deposit of $283,000 in the National Border bank was amply cured by some the bank's best paper, which the city held its vault. The county had about in the bank, which was secured by personal Fifteen clerks will be employed by the new bank. The staff was being lined up yesterday.
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.
