gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8c59a63602d6e618
Response Measures
None
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1895-02-08
Date receivership terminated
1902-07-21
OCC cause of failure
Losses
Share of assets assessed as good
21.5%
Share of assets assessed as doubtful
67.2%
Share of assets assessed as worthless
11.3%
Description
Receivership action described in Feb 1895; suspension/insolvency first reported Nov 23, 1894.
Events (4)
1.May 4, 1889Chartered
Source
historical_nic
2.November 23, 1894Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was 'cramped for funds' and insolvent; closed doors and suspended payment.
Newspaper Excerpt
The Browne National bank closed its doors to-day and went into insolvency. The failure was not a surprise, as it was known to be cramped for funds.
Source
newspapers
3.February 8, 1895Receivership
Source
historical_nic
4.February 8, 1895Receivership
Newspaper Excerpt
A telegram ... directs Bank Examiner Flynn to turn the Browne National Bank over to J. J. Browne, president of the broken institution, who is named as receiver of the concern.
SPARKS FROM THE WIRES. Yesterday's temperature-New York 46, Chicago 38, St. Paul 46, Winnipeg 50, New Orleans 60. Furious fires are ragining in Northern Wisconsin forests; from Ashland to Clear Lake 150 miles are ablaze. Forest fires of considerable magnitude are reported from Minnesota, fifty miles in nearly all directions from Duluth. The comptroller of currency has authorized the Browne national bank of Spokane Falls to begin business with a capitol of $100,000. Exports of gold from Mew York during the week $3,186,000, of which $2,801,000 went to Europe. The imports of gold were $504,658. The New York weekly bank statement: Revenue decrease, $604,000; specie decrease, $3,703,000; banks hold $5,572,000 in excess of the 25 per cent rule. Australian election law, with modifica tions to suit the locality, has been adopted by both houses of the Missouri legislature and awaits the governor's signature. Major John N. Edwards, one of the editors of the Kansas City Times and one of the best newspaper men in the west, died suddenly in Jefferson City yesterday morning from a stroke of paralysis. The secretary of the navy has approved the sentence of Lieut. Wm. C. Strong, U. S. N., for being drunk on duty, neglect and disobedience of orders. He is suspended from duty for five years on half duty pay, will keep his present number on the list and be publicly reprimanded.
2.June 7, 1893The Record-UnionSacramento, CA
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Article Text
BANK FAILURES. Three Spokane Institutions Close Their Doors. SPOKANE (Wash.), June 6.--Three banks closed their doors to-day. They have assets largely in excess of the liabilities, and have been conducted with sound management. They were caught in a sudden whirl and flurry. The public suddenly became alarmed, and distance from the money centers prevented timely fortification. When the banking hours arrived this morning the Washington National and Washington Savings Banks, allied institutions, failed to open their doors. They had been subjected to a heavy run the day before, and although they had made arrangements for money, it failed to arrive in time. This startled the public, and a run was started anew upon all banks. By 1 o'clock it had almost entirely subsided, but relief came too late for the Citizens' National, which closed its doors at 2 o'clock. The other banks stood the strain with no visible signs of weakening, and since they have been strengthening themselves, and the worst of the flurry is believed to be over. It is generally believed that there will be no more suspensions.
3.June 10, 1893The Kootenai HeraldBonners Ferry, Kootenai, ID
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Article Text
Spokane Banks Fail. Last Monday the Bank of Spokane Falls closed its doors. This was the oldest banking institution in Spokane. It was a private institution owned by A. M. Cannon who was supposed to be as solid as adamant financially. The failure of Cannon's bank caused a panic among depositors and immediately a run started on all the banks of the city. On Tuesday morning the Washington National, the Washington Savings and the Citizens National were unable to open their doors for business. The run on the other banks continued, but they were able to stand the run and quiet was resumed. Confidence seems to have taken hold again and everything appears to be all right. Of the four banks that have closed all will pay dollar for dollar and that speedily, it is believed. Cannon's bank has assets three times in access of its liabilities. The Citizens' has $400,000 gilt edge security against $200,000 deposits. There were a series of misfortunes which led up to the financial crash in Spokane. First, depositors caught the infection of foreign alarm. The failures in other states produced a spirit of uneasiness among depositors. Then some accident started a run on the Bank of Spokane and the panic followed. All the banks were perfectly solvent, but four found themselves short of ready money to meet a, run, and it was impossible to get cash in their vaults in time to meet the demands. Every bank in Spokane will pay dollar for dollar upon its deposits, but the temporary failure will doubtless bring ruin to many a man.
4.November 24, 1894The Morning CallSan Francisco, CA
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Article Text
CAUSED NO SURPRISE. Failure of the Browne National Bank of Spokane. SPOKANE, Nov. 23.-The Browne National Bank closed its doors to-day and went into insolvency. The failure was not a surprise, as it was known to be cramped for funds. The suspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. Individual deposits, subject to check at the time of the last published statement, amounted to $43,000. as the bank had long ago paid off most of the depositors. Cashier Shaw puts the assets at $11,650; liabilities, $77,900; deposits, $28,800. The bank was organized in 1889. J. J. Browne was chief stockholder and pΕesident.
5.November 24, 1894The Record-UnionSacramento, CA
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Article Text
A Spokane Bank Goes Into Insolvency. SPOKANE, Nov. 23,-The Browne National Bank closed its doors to-day and went into insolvency. The failure was not a surprise, as it was known to be cramped for funds. Thesuspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. The individual deposits subject to check at the time of the last published statements amounted to only $43,000, as the bank had long ago paid off most.of the depositors. Cashier Shaw puts the assets at $211,650; liabilities, $77,900; deposits, $29.800. The bank was organized in 1889. J. J. Browne was the principal stockholder and President.
6.November 24, 1894The Seattle Post-IntelligencerSeattle, WA
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Article Text
Browne National Bank. Spokane, Fails. SPOKANE, Nov. 23.-The Browne National bank closed its doors today and went into insolvency. The failure was not a surprise, as it was known to be cramped for funds. The suspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. The individual deposits subject to check at the time of the last published statement amounted to only $43,000, as the bank had long ago paid off most of the depositors. Cashier Shaw puts the assets at $211,650; liabilities, $77,The bank was 900; deposits, $29,800. organized in 1889. J. J. Browne was chief stockholder and president, B. B. Glascock vice president, Arthur J. Shaw cashier. TACOMA, Nov. 23.-[Special.]-Before it was generally known here today that the Browne National bank, of Spokane, had closed, telegrams were received notifying the Democratic state committee and the chief Tillicums that one or more Spokane Democrats were candidates for the receivership.
Bank Suspends. W ASHINGTON, D. C., Nov. 23.-The comptroller of the currency to-day recolved notice that the Brown National bank at Spokane, Wash., has suspended payment. Bank Examiner Flynn has been placed in charge.
8.November 24, 1894Evening JournalWilmington, DE
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Article Text
National Bank Suspends. WASHINGTON, Nov. 24.-The comptrol ler of the currency received notice that the Brown National bank at Spokane Wash., had suspended payment. Bank Examiner Flynn has been placed in charge.
9.November 24, 1894The HeraldLos Angeles, CA
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Article Text
CLOSED ITS DOORS. The Browne National Bank of Spo kane Goes Insolvent. SPOKANE, Wash., Nov.23.-The Browne National bank closed its doors today and went into insolvency. The failure was not a surprise, as it was known to be cramped for funds. The suspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. Individual deposits, subject to check at the time of the last published statement, amounted to $43,000, as the bank had long ago paid off most of the depositors. Cashier Shaw puts the assets at $211,650; liabilities, $77,900; deposits, $29.800. The bank was organized in 1889. J. J. Browne was chief stockholder and president.
National Bank Suspends. W ASHINGTON, Nov. 24.-The comptroller of the currency received notice that the Brown National bank at Spokane, Wash., had suspended payment. Bank Examiner Flynn has been placed in charge.
11.November 24, 1894The Salt Lake HeraldSalt Lake City, UT
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Article Text
SPOKANE BANK BURSTS. Spokane, Nov. 23.-The Brown National bank closed its doors today and went into insolvency. The failure was not a surprise, as the bank was known to be cramped for funds. The suspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. Individual deposits, subject to check at the time of the last published statement, amounted to $43,000, as the bank had long ago paid off most of the depositors. Cashier Shaw put the assets at $11.650; liabilities, $77,900; deposits, $29,800. The bank was organized in 1889. J. J. Browne was chief stockholder and its president.
12.November 30, 1894Great Falls Weekly TribuneGreat Falls, MT
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Article Text
Spokane Bank Failure, SPOKANE. Nov. 24-The Browne National band has closed its doors and gone into liquidation. The suspension caused no flurry in business circles. Individual deposits subject to check at the time of the last published statement amounted to only $43,000, as the bank had long ago paid off most of the depositors. Cashier Shaw puts the assets at $11,650; liabilities, $76,900; deposits, $29,800.
13.November 30, 1894Pullman HeraldPullman, WA
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Article Text
Has Closed Its Doors. SPOKANE, November 26.-The Browne National Bank closed its doors to-day and went into insolvency. The failure was not a surprise, as the bank was known to be cramped for funds. The suspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. Individual deposits subject to check at time of the last published statement amounted to $43,000. Since then the bank has paid off most of its depositors. Cashier Show puts the assets at $211,650; liabilities, $77,900; deposits, $29,800. The bank was organized in 1889; J. J. Browne was the chief stockholder and President.
14.December 1, 1894The Coeur D'alene PressCoeur D'alene, ID
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Article Text
Has Closed Its Doors. SPOKANE, November 26.-The Browne National Bank closed its doors to-day and went into insolvency. The failure was not a surprise, as the bank was known to be cramped for funds. The suspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. Individual deposits subject to check at time of the last published statement amounted to $43,000. Since then the bank has paid off most of its depositors. Cashier Show puts the assets at $211,650; liabilities, $77,800; deposits, $29,800. The bank was organized in 1889; J.J. Browne was the chief stockholder and President.
Washington, Nov. 23.-The comptroller of the currency today received notice that the Brown National Bank, of Spokane, Wash., had suspended payment. Bank Examiner Flynn has been placed in charge.
16.December 6, 1894Lincoln County LeaderToledo, OR
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Article Text
Has Closed Its Doors. SPOKANE, November 26.-The Browne National Bank closed its doors to-day and went into insolvency. The failure was not a surprise, as the bank was known to be cramped for funds. The suspension caused no flurry in business circles. There was a small withdrawal from other banks, but they are in no danger. Individual deposits subject to check at time of the last published statement amounted to $43,000. Since then the bank has paid off most of its depositors. Cashier Show puts the assets at $211,650; liabilities, $77,900; deposits, $29,800. The bank was organized in 1889; J. J. Browne was the chief stockholder and President.
17.December 21, 1894The Providence NewsProvidence, RI
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Article Text
LIST OF FAILURES. Wrecks Floating Upon the Active Sea of Business. JANUARY. 2. Theodore Walton, the Plunger, assigned in New York. MARCH. 10. Morse & Smith, produce commission merchants of Boston and Codar Rapids, Ia., made an assignment; estimated liabilities, $210,000; assets, $65,000. 18. The Charles L. Webster Publishing company, of which Mark Twain was the principal owner. assigned in New York. NOVEMBER. 8. The First National bank of San Bernardi no. Cal., closed its doors. 9. Schulenberg & Boeckler, Ste Louis lumber dealers. assigned: assets, $600,000; liabili ties unknown. 23. The Brown National bank of Spokane. Wash., failed. DECEMBER.' a The J.W. Fowler Car company of Eliza
18.December 27, 1894The Somerset ReporterSkowhegan, ME
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Article Text
LIST OF FAILURES. Wrecks Floating Upon the Active Sea of Business. JANUARY. 2. Theodore Walton, the Plunger, assigned in New York. MARCH. 10. Morse& Smith, produce commission mer chants of Boston and Cedar Rapids, In made an assignment: estimated liabilities $210,000: assets, $65,000. 18. The Charles L. Webster Publishing com pany, of which Mark Twain was the princi pal owner, assigned in New York. NOVEMBER. 8. The First National bank of San Bernardi no, Cal., closed its doors. 9. Schulenberg & Boeckler, St. Louis lumber dealers, assigned: assets, $600,000; liabili ties unknown. B. The Brown National bank of Spokane Wash., failed. DECEMBER. 6. The J. W. Fowler Car company of Eliza beth. N. J., went into hands of 8 receiver
19.January 1, 1895The Topeka State JournalTopeka, KS
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Article Text
LIST OF FAILURES. Wrecks Floating Upon the Active Sea of Business. JANUARY. 2. Theodore Walton, the Plunger, assigned in New York. MARCH. 10. Morse & Smith, produce commission merchants of Boston and Cedar Rapids, Ia., made an assignment; estimated liabilities, $210,000; assets, $65,000. 18. The Charles L. Webster Publishing company, of which Mark Twain was the principal owner, assigned in New York. NOVEMBER. 8. The First National bank of San Bernardino, Cal., closed its doors. 9. Schulenberg & Boeckler, St. Louis lumber dealers, assigned; assets, $600,000; liabilities unknown. 23. The Brown National bank of Spokane, Wash., failed. DECEMBER. 6. The J. W. Fowler Car company of Elizabeth, N. J., went into hands of a receiver.
20.January 3, 1895Audubon RepublicanAudubon, IA
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Article Text
LIST OF FAILURES. Wrecks Floating Upon the Active Sea of Business. JANUARY. 2. Theodore Walton, the Plunger, assigned in New York. MARCH. 10. Morse & Smith, produce commission merchants of Boston and Cedar Rapids, Ia., made an assignment; estimated liabilities, $210,000; assets, $65,000. 18. The Charles L. Webster Publishing company, of which Mark Twain was the principal owner, assigned in New York. NOVEMBER. 8. The First National bank of San Bernardino, Cal., closed its doors. 9. Schulenberg & Boeckler, St. Louis lumber dealers, assigned; assets, $600,000; liabilities unknown. 23. The Brown National bank of Spokane, Wash., failed. DECEMBER. 6. The J. W. Fowler Car company of Elizabeth, N. J., went into hands of a receiver.
LIST OF FAILURES. Wrecks Floating Upon the Active Sea of Business. JANUARY. 2. Theodore Walton, the Plunger, assigned in New York. MARCH. 10. Morse & Smith, produce commission merchants of Boston and Cedar Rapids, Ia., made an assignment; estimated liabilities, $210,000: assets, $65,000. 18. The Charles L. Webster Publishing company, of which Mark Twain was the principal owner, assigned in New York. NOVEMBER. 8. The First National bank of San Bernardino, Cal., closed its doors. 9. Schulenberg & Boeckler, St. Louis lumber dealers, assigned; assets, $600,000; liabilities unknown. 23. The Brown National bank of Spokane, Wash., failed. DECEMBER. 6. The J. W. Fowler Car company of Eliza beth, N. J., went into hands of a receiver.
22.January 10, 1895Connecticut Western NewsNorth Canaan, Salisbury, Canaan, CT
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Article Text
LIST OF FAILURES. Wrecks Floating Upon the Active Sea of Business. JANUARY. 2. Theodore Walton, the Plunger, assigned in New York. MARCH. 10. Morse & Smith, produce commission merchants of Boston and Cedar Rapids, Ia., made an assignment; estimated liabilities, $210,000; assets, $65,000. 18. The Charles L. Webster Publishing company, of which Mark Twain was the principal owner, assigned in New York. NOVEMBER. 8. The First National bank of San Bernardino, Cal., closed its doors. 9. Schulenberg & Boeckler, St. Louis lumber dealers, assigned; assets, $600,000; liabilities unknown. 23. The Brown National bank of Spokane, Wash., failed. DECEMBER. 6. The J. W. Fowler Car company of Elizabeth, N. J., went into hands of a receiver.
23.February 10, 1895The Daily Morning AstorianAstoria, OR
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Article Text
HIS OWN RECEIVER. Spokane, Feb. 9.-A telegram received today from the comptroller of the currency directs Bank Examiner Flynn to turn the Browne National Bank over to J. J. Browne, president of the broken institution, who is named as receiver of the concern. Browne has been averse to allowing the bank to pass into other hands, and has work. ed hard to prevent a receivership. He wanted to wind up the bank's affairs himself, and has carried his point.
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.
