gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a5d36882775fa5a2
Response Measures
None
Receivership Details
Depositor recovery rate
93.7%
Date receivership started
1891-02-03
Date receivership terminated
1895-01-22
OCC cause of failure
Fraud
Share of assets assessed as good
61.2%
Share of assets assessed as doubtful
37.0%
Share of assets assessed as worthless
1.8%
Description
Depositors gathered when doors were closed but articles attribute suspension to failed branches, not a depositor-driven run.
Events (5)
1.January 24, 1888Chartered
Source
historical_nic
2.December 17, 1890Suspension
Cause
Local Banks
Cause Details
Failure of three branches in the Coeur d'Alene mining district (Bank of Wallace, Bank of Wardner, Bank of Murray); government had withdrawn deposits recently
Newspaper Excerpt
The Spokane National bank...closed its doors this morning. The suspension was precipitated by the failure of three branches in the Coeur d'Alene mining district
Source
newspapers
3.February 3, 1891Receivership
Source
historical_nic
4.February 3, 1891Receivership
Newspaper Excerpt
Comptroller Lacey has appointed Herman L. Chase, of Tacoma, receiver of the Spokane National bank, of Spokane Falls, Wash.
Source
newspapers
5.*Other
Newspaper Excerpt
During the forenoon the steps leading to the closed doors were covered by an expectant throng of depositors and curious idlers. The crowd was as orderly as if it were attending a funeral, as it really was in one sense of the word, ... but no beneficent genii came to open the doors and fill the vaults with gold and silver, and even if the throng had been turned loose in the money drawers they would not have been much better for the privilege. The sufferers got plenty of cold comfort. Any number of men were around who knew all about the shaky condition of this bank months ago, and who, had they only known that their friends
Source
newspapers
Newspaper Articles (22)
1.December 18, 1890The Helena IndependentHelena, MT
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Article Text
SPOKANE BANK CLOSED. The Spokane National and Its Three Branches Suspended. SPOKANE FALLS, Dec. 17.-[Special.]The Spokane National bank, one of the largest banks in the city, closed its doors this morning. Its immediate liabilities are estimated at $300,000. W. Hussey, the cashier, claims the assets will exceed the liabilities by $150,000. The suspension was precipitated by the failure of three branches in the Coeur d'Alene mining district, viz.: Bank of Wallace, Bank of Wardner, and Bank of Murrav. The bank has been known to be in financial straits for the past year, but heretofore it has been assisted by other banks. The bank was formerly a United States depository, but the government withdrew its deposits about two weeks ago.
Failure at Spokane. SPOKANE FALLS, Wash., Dec. 17.The Spokane National bank, one of the largest banks in the city, closed its doors this morning. Its immediate liabilities are estimated at $300,000. W. Hussey, the cashier, claims that the assets will exceed the liabilities by $140,000. The suspension was precipitated by the failure of three branches in the Couer d'Alene mining district, viz: the Bank of Wallace, Bank of Wardner and the Bank of Murray. The bank was known to have been in financial straits for the past year, but heretofore had been assisted by other banks. The bank was formally a United States depository, but the government withdrew its deposits about two weeks ago.
3.December 18, 1890Deseret Evening NewsSalt Lake City, UT
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Article Text
THE SPOKANE NATIONAL BANK. SPOKANE FALLS, Dec. 17.-The Spokane National Bank, one of the largest banks in the city, closed its doors this morning. The immediate liabilities areestimated at $300,000. W. H. Hussey, cashier. claims the assets will exceed the liabilities by $150,000. The suspension was precipitated by the failure of branches in the Coeur d'Alene mining district, viz., the bank of Wallace, the bank of Wardner and the bank of Murray. The bank is known to have been in ffnancial straits for the past year, but heretofore had been assisted by other banks. The bank was the United States depository, but the government withdrew its deposits about two weeks ago.
4.December 18, 1890Pittsburg DispatchPittsburgh, PA
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Article Text
A SPOKANE BANK SUSPENSION. The Failure of Branches in Mining Districts Drags It Down. SPOKANE FALLS, Wash., Dec. 17.-The doors of the Spokane National Bank, one of the largest institutions in the city, were not opened this morning. For nearly a year it has been known among bankers that this bank was in financial straits, and more than once other banks have helped it out. The difficulty was precipitated by the failure of three branches in the Ceour d'Alene mining district, said to have been brought about by a failure to realize on securities held by the bank for advances made for the development of various mining properties.
5.December 18, 1890Spokane Falls ReviewSpokane, Spokane Falls, WA
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Article Text
OTHER BANKS SOLID A Streement Made by Mr. Warren Hussey. IT IS THE TALK OF THE TOWN How the News Was Received by the Depositors Incidents of the Day. Early yesterday morning, before the hour when laborers and mechanics begin their daily toil, a crowd of blue. shirted knights of the tin-bucket brigade collected at the corner of Howard street and Riverside avenue, in front of the Spokane National bank. Some of the men decided to lose a day's work to assure themselves that all was well with their deposits. A faint spark of hope that the doors would open and the whole thing prove a horrible dream glowed in the breast of the populace that collected there. Nine clock came. The curtains were not lowered, nor the doors opened. The erowd dispersed. At 9:30 o'clock Perry Griffin, the city possenger agent of the Union Pacific railway, dashed down Riverside avenue to his office. He had just arisen and read the news in the REVIEW while he ate the frugal breakfast of a railroad official. He seized his hat and left the restaurant without paying his bill, so great was his haste to know the worst. He looked over his books in feverish haste. When he had finished, a smile overspread his face. The Union Pacific railway was saved. Only 83 cents of the company's money was in the financial cataclysm. The remainder had been drawn out a day before. The passenger agent returned to his unfinished meal, and ate an additional bowl of mush with a relish. When Judge M. T. Hartson heard the news, he smiled complacently. When his friends met him and told him of their losses, he condoled with them. The temptation to crow over his less fortunate fellow-men was strong. He smiled broadly as he turned the combination of his safe and opened his books. An awful change was wrought in his features. The happy, gay, debonair smile vanished, and in its place there was a wan, pinched face that looked as though it had aged ten years in a single second. A piece of paper fluttered to the floor, and told the story. It was an overlooked deposit check for $150. Such were the experiences of a day. There were many anxious faces but all was quiet on the Potomac. During the forenoon the steps leading to the closed doors were covered by an expectant throng of depositors and curious idlers. It hung around the deserted building like a dark cloud over a waterspout, as though the people expected that some miraculous power might swing open the carved doors, unlock the time lock on the great vaults, and enable them to march in and draw their own deposits. The crowd was as orderly as if it were attending a funeral, as it really was in one sense of the word, but a good deal of good natured badinage passed among the victims, who were evidently determined to make the best of a bad,bargain. But no beneficent genii came to open the doors and fill the vaults with gold and silver, and even if the throng had been turned loose in the money drawers they would not have been much better for the privilege. The sufferers got pienty of cold comfort. Any number of men were around who "knew all about the shaky condition of this bank months ago," and who, had they only known that their friends
6.December 19, 1890The Portland Daily PressPortland, ME
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Article Text
estimated at $100,000, and assets of $50,000 $60,000. Owen Brothers, agents of the Atlantic Mills, Providence, R. I, have made an assignment to Charles H. Merriman. The liabilities are large, but the muls will contin ue running as usual. The doors of the Spokane National Bank, Spokane Falls, Wash., were closed Wednesday.
7.December 19, 1890Evening StarWashington, DC
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Article Text
The Spokane National Bank of Spokane Falls, Wash., has suspended, owing to the failure of several branches. Tuesday afternoon Gov. Steele returned the Kingfisher, O.T., capitol bill to both houses of the legislature with a communication setting forth his objections to it. The legislature refused to change the bill.
8.December 20, 1890The Seattle Post-IntelligencerSeattle, WA
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Article Text
THE BROKEN SPOKANE BANK. Government Had $21,000 on DepositPetitions For a Receiver. WASHINGTON CITY, Dec. 19.-[Special.]Several requests have been received from Spokane Falls for a receiver for the Spokane National band. Comptroller Lacy says he will not appoint any one until after a full investigation. all He said he would appoint no one who is in any way interested in the affairs of the bank, and probably no resident of Spokane Falls. In the Spokane National bank at Spokane Falls, recently suspended, the government had something over $21,000 on deposit. Of this, $14,000 was credited to the Indian land office fund.
9.December 20, 1890The Semi-Weekly TribuneGreat Falls, MT
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Article Text
Bank Failure at Spokane Falls. SPOKANE FALLS, Dec. 17.-The doors of the Spokane National bank, one of the largest institutions of the city were not opened this morning. For nearly a year it has been known among bankers the bank was in financial straits, and more than once other banks have helped it out. They did 80 this time, but finally decided the bank would have to suspend.
10.December 25, 1890Spokane Falls ReviewSpokane, Spokane Falls, WA
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Article Text
THE BROKEN BANK. A Receiver Will Not be Appointed for Some Time. [Special Service of the REVIEW'S Washing. ton Press Bureau.| WASHINGTON, Dec. 19.-Several appli. cations have been made that a receiver be appointed for the Spokane National bank. Comptroller Lacy said to-day that he would not make an appointment for two weeks at least. He proposes to make a full investigation of the affairs of the bank to ascertain as to its solvency. He said he would appoint no man who had in any way been connected with the bank or who had an interest in its affairs. He did not think he would appoint any citizen of Spokane.
11.December 25, 1890Spokane Falls ReviewSpokane, Spokane Falls, WA
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Article Text
Hor Holiday Money. The officials of the finance division of the interior department were to day devising ways and means to pay the officials in the Indian and land department service in Eastern Washington their salaries in time for the holidays. The Spokane National bank, recently suspended, was a United States depository and as a consequence $14,000 of Indian office funds and something over $7, 000ofland office funds are temporarily tied up. * *
12.January 4, 1891The Seattle Post-IntelligencerSeattle, WA
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Article Text
A Noble Sacrifice. Spokane Falls Globe. When the Spokane National bank suspended the sympathy of all this community went out spontaneously toward Mr. W. H. Taylor. He was only a small stockholder in the bank, and had little or DO voice in its management. But the bank's susppnsion to him was an irreparable calamity, owing to his identification with the institution. He had been president of the Board of Trade. He had vigorously and_intelligently fostered and encouraged every legitimate
13.January 29, 1891The Helena IndependentHelena, MT
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Cannot Understand the Delay. SPOKANE FALLS, Jan. 28.-[Special.]-Creditors of the defunct Spokane National bank are unable to understand the long dolay in the appointment of a receiver. The time within which R receiver should have been appointed expired yesterday and creditors will meet to-morrow and instruct their attorneys to proceed through the United States court to have a receiver appointed immediately.
14.January 29, 1891The Seattle Post-IntelligencerSeattle, WA
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Article Text
Receiver of Spokane's Broken Bank. WASHINGTON CITY, Jan. 28.-[Special.]Herman L. Chase, of Tacoma, was today appointed by Comptroller Lacey to be rereiver of the Spokane National bank, of Spokane. Mr. Lacey was urged strongly to appoint a resident of Spokane, but refused to do so, as the rule in such cases is that the receiver shall not live in the city where the bank is located. ATCHISON, Kan., Jan. 28.-The State National bank of this city closed its doors this morning, and will go into voluntary liquidation. The bank has a capital stock of $250,000.
15.February 4, 1891Evening StarWashington, DC
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Article Text
RECEIVER APPOINTED.-The controller of the currency has appointed Herman L. Chase of Tacoma, Wash., receiver of the Spokane National Bank of Spokane Falls, Wash.
16.February 4, 1891St. Paul Daily GlobeSaint Paul, MN
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Article Text
Chase Appointed. WASHINGTON, Feb. 3.-Comptroller Lacey has appointed Herman L. Chase. of Tacoma, receiver of tle National Bank of spokane, Spokane Falls, Wash.
17.February 4, 1891Evening StarWashington, DC
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Article Text
RECEIVER APPOINTED.-The controller of the currency has appointed Herman L. Chase of Tacoma, Wash., receiver of the Spokane National Bank of Spokane Falls, Wash.
18.February 18, 1891The Dalles Daily ChronicleDalles, OR
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Will Settle up the Business. SPOKANE FALLS, Feb. 16.-H. L. Chase, recent appointed receiver of the Spokane National Bank, has arrived in this city from Tacoma. He will at once enter on his duties and settle up the business of the bank.
19.October 23, 1891The Morning CallSan Francisco, CA
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Suspended Bank Dividend. SPOKANE (Wash.), Oct. 22 -In accordance with the decision of the Comptroller of the Treasury in declaring a dividend of 15 per cent in favor of the creditors of the Spokane National Bank, which failed about one year ago, Receiver Chase has begun the payment of checks. The amount to be paid out by this dividend is $42,588.
20.March 21, 1892The Dalles Daily ChronicleDalles, OR
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Scalp Hunting. WASHINGTON, March 21.-Bank Examiner W.H. Heald, for Oregon and Washington, and receiver Chase, of the Spokane National bank, will be bounced out of office. Charges were made against them some time ago by the members of the Washington delegation,land recently one of the best experts of the comptroller's office in Washington was sent out to Washington to investigate. It is not yet known who will be appointed to Heald's position. Mr. Bird, of Tacoma, has been recommended for the receivership at Spokane. The bank examiner will have to be indorsed by both Washington and Oregon as that is his district. The receiver will probably be appointed upon the recommendation of the Washington delegation.
21.July 7, 1893The Salt Lake HeraldSalt Lake City, UT
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WILL SOON RESUME. Two of the Suspended Los Angeles Banks to Open Very Soon. WASHINGTON, July 6.-The comptroller of the currency is informed that the First National bank of Los Angeles, Cal., and the Southern California bank of the same place, which suspended recently, will open their doors for business again within a few days. The comptroller is also informed that the First National bank of San Diego, Cal., which re-opened for business yesterday, received deposits to the amount of $25,000, as against withdrawals of $8,000. This is regarded as evidence of returning confidence. The National bank of Spokane reopened for business this morning.
22.July 7, 1893San Antonio Daily LightSan Antonio, TX
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LATE TELEGRAMS t BOILED DOWN FROM PRIVATE SPECIAL AND OTHER SOURCES. National bank of Spokane, Wash., resumes. Bissell spends July at Glenn Summit, Pa. The Austin water work's fight continues lively. The murderer of the Ray girls, Ky., jailed in Missouri. Nicaragua legations in Europe and United States abolished. Judge Tunstall is missing from Sour Springs, Wilson county. Houston Heights Bed-spring and Mattress company fails for $10,000. New York Chamber of Commerce favors repeal of Sherman silver law. Central Iowa visited by a rain storm that badly wrecks the oat crop. Consolidation of Mexican iron mining under one syndicate is proposed. The defense in the Randle murder case, Dallas, ask change of venue. Belle, daughter of Judge McCormick of Dallas, weds Chas. F. Barney. Hawaaian company has exploded. It is not certain that Sprekels was in it. Texas County Judges' association meets in Austin Tuesday, August 22nd. Anton Falls and Ida Johnson killed driving across tracks at Gatesville, Wis. Business in Australia is at a stand still and thousands are leaving for America. Cleveland is confined to his room, at Buzzard's Bay, Mass., with rheumatism. Several clauses of the Irish Home Rule bill pass by majorities ranging from 15 to 63. Heavy sales of coffee lands are reported in Cheapos, Mexico, and plant will be doubled. Congressman McMillan, of Tennessee, expects to be head of ways and means committee. Warner, of the bi-metalic league, says that India's silver deal will raise the price of the white metal. Sentences upon Choctaw criminals suspended, and U.S. government endeavors to restore harmony. Overflow of the Weiling river China drowns about 1000 people; and 10,000 perish by flood in the Manigfue district. Smith, cashier, and Page, vice president of Merchant's National of Fort Worth, empty their revolvers at each other in the bank. 1 Cashier wounded, both arrested.
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.
