First National Bank (Tyler, TX)

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Episode Information

Episode UID
365101163
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
36510 national
Charter Number
3651
Start Date
November 30, 1896
Location
Tyler, Texas (32.351, -95.301)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
eac20edb14574487

Response Measures

Full suspension, Books examined

Other: Officers/stockholders pledged and conveyed real estate (deed of trust) to secure about $30,000 as part of efforts to satisfy creditors and reorganize; receiver was appointed by the Comptroller.

Receivership Details

Depositor recovery rate
58.5%
Date receivership started
1896-12-17
Date receivership terminated
1905-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
6.4%
Share of assets assessed as doubtful
26.2%
Share of assets assessed as worthless
67.5%

Events (5)
1. March 21, 1887 Chartered
Source
historical_nic
2. November 30, 1896 Run
Cause
Bank Specific Adverse Info
Cause Details
Continued large withdrawals driven by inability to realize on assets (asset/liquidity problems).
Newspaper Excerpt
Owing to continued withdrawals of deposits and our inability to realize on assets, the directors deem it to the best interest of all to suspend payment.
Source
newspapers
3. November 30, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension ordered due to continued withdrawals and inability to realize on assets.
Newspaper Excerpt
The First National bank suspended this morning. A notice was posted on the door: ...the directors deem it to the best interest of all to suspend payment.
Source
newspapers
4. December 17, 1896 Receivership
Source
historical_nic
5. December 17, 1896 Receivership
Newspaper Excerpt
The comptroller of the currency has appointed G. F. Taylor receiver of the First National bank of Tyler, Tex.
Source
newspapers

Newspaper Articles (21)
1. December 1, 1896 Kansas City Daily Journal Kansas City, MO
Article from Kansas City Daily Journal, December 1, 1896

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Article Text

TYLER, TEX., BANK FAILS. Withdrawal of Deposits and Non-Negotiable Assets the Cause. Tyler, Tex., Nov. 30.-The First National bank suspended this morning. The following notice was posted on the door: "Owing to continued withdrawals of deposits and our inability to realize on assets, the directors deem it to the best interest of all to suspend payment. All depositors will be paid in full." The bank had a capital stock of $200,000 and $40,000 surplus according to the last sworn statement. It is the opinion of the officers that the bank will be speedily reorganized.

2. December 1, 1896 The Daily Texarkanian Texarkana, AR
Article from The Daily Texarkanian, December 1, 1896

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Article Text

Tyler, Texas, Nov. 30.-The First National bank suspended this morning. The following notice was posted on the door: "Owing to continued withdrawal of deposits and our inability to realize on assets, the directors deem it to the best interest of all to suspend payment. All depositors will be paid in full. [Signed.] "H. H. Rowland, Fresident." The bank hadcapital stock $200,000 and $40,000 surplus according to last sworn statement. It is the opinion of the officers that the bank will be speedily reorganized.

3. December 1, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, December 1, 1896

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Article Text

TEXAS BANK SUSPENDS. Continued Withdrawal of De₁ osit Compels Closing of Tyler Bank. Tyler, Tex., Dec. 1.-The First National bank suspended yesterday morning. The following notice was posted on the door: "Owing to the continued withdrawals of deposits and our inability to réalize on assets, the directors deem it to the best interest of all to suspend payment. All depositors will be paid in full. "H. H. ROWLAND, President." The bank has a capital stock of $200,000 and $40,000 surplus, according to the last sworn statement. It is the opinion of the officers that the bank will be reorganized very soon.

4. December 1, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 1, 1896

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Article Text

Texas Bank Suspends. TYLER, Tex., Nov. 30.-The First National bank suspended this morning. The bank had a capital stock of $200,000 and $40,000 surplus, according to the last sworn statement. It is the opinion of the officers that the bank will be speedily reorganized.

5. December 3, 1896 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, December 3, 1896

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Article Text

GAVE A TRUST DEED. Tyler, Tex., Dec. 1.-(Special.)-H. H. Rowland, president of the First National Bank, which suspended payment yesterday, after conveying several pieces of real estate to different individuals, gave a deed of trust on all other real estate in this county to secure a number of others to the amount of about $30,000. J. D. Moody, cashier of the defunct bank, is made trustee.

6. December 4, 1896 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, December 4, 1896

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Article Text

State. Stockholders and depositors of the First National bank of Tyler will endeavor to reorganize without the appointment of a receiver. Miss Roberts of Hillsboro ser.ously burned by her dress catching fire from a grate. Aunt Mary Marks dies at the Washing. ton county poor farm at the age of 119. George Laster killed by Alf Wells in Washington county. J. J. Cutts of Forney missing and fears entertained that he has been murdered. Seven convicts on a Milam county farm liberated by a masked man, who shoots the guard from ambush. S. C. Halverson of Tyler assigns. The supreme court holds that an agree. ment between a brower and retailer requiring the latter to handle only the brewer's beer is a violation of the antitrust law.

7. December 5, 1896 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, December 5, 1896

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Article Text

Those good Times. Kansas City, Nov. 30.-The Missouri National Bank, the biggest bank in Kansas City, has just closed its doors. The failure is due to the money on hand running below the reserve required under the banking laws and paper among the assets being given a much lower value by Examiner Forman than by the bank officials. Mr. Forman is reticent regarding the exact condition of the bank and the officers of the institution say they have left everything to him. They assert, however. with apparent confidence that they will pay depositors in full, and no matter what occurs there will be a fair percentage left for stockholders. The failure created a surprise, as the bank was generally understood to be in a sound condition. Its last statement was made on Oct. 6, and showed resources at the close of business that day to be $1,875.537.24; its capital was $250,000.Examiner Forman says the condition of the bank is practically the same today as on October 6. The only difference is the value of some of the assets. The bank opened for business Jan. 2, 1891, with 3S depositors, and now has 2.685 depositors. During the panic in July, 1893, it was compelled to suspend, but remained closed only about 10 days. No trouble is anticipated at any of the other Kanass City banks. New York, Nov. 30.-Isaac Sweep & Co., wholesale dealers in watch cases, failed today. The firm has a branch in St. Louis. Liabilities, $75,000; nominal assets, $50,000. Washington. Nov. 30.-The First National Bank of Tyler, Tex., failed today at the date of its last report the capital stock of the bank was $200,000.

8. December 8, 1896 Willmar Tribune Willmar, MN
Article from Willmar Tribune, December 8, 1896

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Article Text

Tuesday, Dec. 1. The First National bank of Tyler, Tex., has suspended. Glass manufacturers are trying to patch up their trust again. Sub-committees of the house have begun work on the appropriation bills. Max Alvary, the tenor, is said to be regaining health. He was reported not long ago as in a dying condition. The authorities at Carmaux have arrested 50 persons in connection with the socialist demonstration, and rioting of Sunday. The big plant of the Sanford (Me.) Manufacturing company has resumed operations after a long shut down. About 800 people are at work. Cholera is prevalent in Tokio and appears to be on the increase. Plague has made its appearance in Formosa and the Japanese there are dying in large numbers.

9. December 18, 1896 Evening Star Washington, DC
Article from Evening Star, December 18, 1896

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Article Text

Bank Receiver Appointed. The controller of the currency has anpointed G. F. Taylor receiver of the First National Bank of Tyler, Tex.

10. December 18, 1896 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, December 18, 1896

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Article Text

Tyler Bank Receiver. Washington, December 17.-The comptroller of the currency has appointed G. F. Taylor receiver of the First National bank of Tyler, Texas.

11. December 24, 1896 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, December 24, 1896

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Article Text

RECEIVER FOR TYLER BANK. Tyler, Tex., Dec. 17.-(Special.)-Mr. G. F. Taylor received a telegram this afternoon from Comptroller of the Currency Eckles notifying him of his appointment as receiver of the First National bank and to report to the examiner in charge. Mr. Taylor will qualify and take charge of affairs tomorrow.

12. December 24, 1896 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, December 24, 1896

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Article Text

TYLER BOND RECEIVER. Washington, Dec. 17.-The comptroller of the currency has appointed G. F. Taylor receiver of the First National bank of Tyler, Tex.

13. December 24, 1896 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, December 24, 1896

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Article Text

SUSPENDED BUSINESS. Texas Life Insurance Company, Headquarters at Tyler. Tyler, Tex., Dec. 18.-(Special.)-The Texas Life Insurance company, which was organized here in March last with a capital stock of $100,000, has suspended business. A portion of the company's assets are tied up in the First National bank, which is now in the hands of a receiver.

14. January 1, 1897 St. Johnsbury Caledonian Saint Johnsbury, VT
Article from St. Johnsbury Caledonian, January 1, 1897

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assigned; aggregate liabilities, nearly $500,000. The Chicago Consolidated Iron and Steel Co. assigned; liabilities, about $300,000. B. Hilton, Hughes & Co., successors to A. T. Stewart & Co., New York, made a general assignment and closed business; liabilities over $1,000,000. 31. The Kings County Elevated Railway Co. of Brooklyn placed in hands of a receiver. SEPTEMBER. 4. The First National bank of Helena, Mon., failed, with heavy liabilities. 26. The First National bank of Springville, N. Y., suspended. Wolf Bros.' dry goods establishment in Little Rock closed by attachments; liabilities, $500,000. OCTOBER. 6. The Car and Lumber Co. of Tyler, Tex., failed; liabilities, $250,000. John Maclean & Co., wholesale millinery, failed in Montreal; liabilities, $175,000. B. L. Price & Co., clothing manufacturers, failed; liabilities, $125,000. 7. The First National bank of Ithaca, Mich., failed. 14. The Marine National bank of Duluth failed. 15. The Bank of Commerce of Buffalo closed its doors. 16. Merchants' National bank of Atlanta failed. 19. The Western New York Preserving Co., at Buffalo, seized by the sheriff for debt; 11abilities, $167,323. Charles Bertrand & Co., merchants, of Isle Verte, Que., failed, with liabilities of $235,000. 29. The Mecosta County Savings bank, at Big Rapids, Mich., suspended. NOVEMBER. 20. The First National bank of Sioux City, Ia., failed. 23. The Dakota National bank of Sioux Falls failed. 30. The Missouri National bank, at Kansas City, passed into the hands of the comptroller of the currency. The First National bank of Tyler, Tex., failed. DECEMBER. 1. Gage & Felton, bankers and brokers, failed in Boston.

15. July 10, 1897 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, July 10, 1897

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Article Text

Diebold automatic. burgiar-proof steel veult, with Sargent & Greenleaf triple timelock attachment. The vault is complete in every respect, highly finished. and has three interior money chests with independent combinations and fully equipped with metallic boxes. The following are the interior dimensions: 6 feet 4 inches high. 5 feet 4 snches broad, 7 feet long. Gus F. Taylor. receiver, First National 11 Bank. Tyler. Texas.

16. August 22, 1897 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, August 22, 1897

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Cases Continued. Tyler, Texas, August 20.-The United States district attorney and the attorneys for the defendents today agreed to continue the cases against the late officers of the City National and First National banks, which suspended business and closed their doors here last fall. It will be remembered that indictments were returned by the grand jury of the Federal court at Galveston against all the officials of both banks. Under the agreement of counsel, the cases go over until the January term of the court here.

17. April 5, 1899 Shiner Gazette Shiner, TX
Article from Shiner Gazette, April 5, 1899

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Receiver Taylor of the First National bank of Tyler is paying the third dividend of 10 per cent. The bank was capitalized at $100,000 and suspended payment in November, 1897. The City National bank of Tyler has also paid three 10 per cent dividends.

18. October 7, 1899 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 7, 1899

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Cannot Evade Liability. ST. LOUIS, Oct. 6.-In the United States District Court to-day Judge Adams decided, in effect, that stockholders in a national bank, knowing it to be insolvent, could not transfer their stock legally to another for the purpose of evading the double liability law. The decision was rendered in the case of Gus F. Taylor, receiver of the First Nationel Bank of Tyler, Tex., the Paramore Investment Company and Edward E. Paramore, of St. Louis.

19. October 7, 1899 The Morning News Savannah, GA
Article from The Morning News, October 7, 1899

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Cannot Transfer Stock. St. Louis, Oct. 6.-In the United States District Court Judge Adams decided, in effect, that stockholders in a national bank knowing it to be insolvent, could not transfer their stock legally to another for the purpose of evading the double liability law. The decision was rendered in the case of Gus F. Taylor, receiver of the First National Bank of Tyler, Tex., the Paramore Investment Company and Edward E. Paramore of St. Louis.

20. February 12, 1902 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, February 12, 1902

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TYLER BANK FAILURES. City Has Received the Amount It Is Entitled to Under Compromise. Tyler, Texas, February 11.-Today a representative of the officials of the defunct First National bank. which suspended in 1896, paid to the city treasurer $50,000. This is a compromise of the Indebtedness of the bank to the city which originally was $350,000. The receiver of the bank paid a portion of this but by this compromise the city loses $19,500.

21. December 17, 1902 Shiner Gazette Shiner, TX
Article from Shiner Gazette, December 17, 1902

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The Tyler Bank Cases. Tyler, Texas, December 15.-Judge Swain of Florida has been designated by the authorities at Washington as the presiding judge to hold a special term of the Federal court at this place, which will convene on Monday, January 12, 1903. At this term, among other cases that will be called will be the case growing out of the failure of the City National bank and the First National bank of Tyler. These banks suspended payment in 1896, and the in. dictments followed a year later.