gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
104499aa3ba6ed7a
Response Measures
Capital injected, Full suspension, Books examined
Other: National bank examiner C.H. Brush took charge and the bank was suspended and later placed in receivership by the Comptroller; receiver paid dividends later. Stockholders/bondsmen agreed to reorganize/raise funds to cover deposits.
Receivership Details
Depositor recovery rate
49.2%
Date receivership started
1895-08-15
Date receivership terminated
1899-08-31
OCC cause of failure
Losses
Share of assets assessed as good
34.3%
Share of assets assessed as doubtful
14.2%
Share of assets assessed as worthless
51.5%
Description
Contemporary articles refer to West Superior; receivership federally appointed 1895-08-15.
Events (5)
1.August 16, 1890Chartered
Source
historical_nic
2.July 30, 1895Run
Cause
Local Banks
Cause Details
Run triggered by closing of the (Superior) bank in the same city, causing deposit withdrawals from Keystone.
Measures
Heavy withdrawals; bank closed doors; examiner later took charge.
Newspaper Excerpt
The immediate cause of the trouble was the closing of the Superior bank last Saturday, which caused a run on the Keystone National.
Source
newspapers
3.July 31, 1895Suspension
Cause
Local Banks
Cause Details
Heavy drain on deposits following runs after other local bank failures made the bank suspend and examiner took charge.
Newspaper Excerpt
The Keystone National bank has been taken charge of by C. H. Brush, national bank examiner. The heavy drain of the last two months has caused the deposits to decrease ...
Source
newspapers
4.August 15, 1895Receivership
Source
historical_nic
5.August 15, 1895Receivership
Newspaper Excerpt
The comptroller of the currency has appointed Gilbert G. Thorne temporary receiver of the Keystone National Bank of Superior, Wis.
Source
newspapers
Newspaper Articles (22)
1.July 31, 1895San Antonio Daily LightSan Antonio, TX
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Article Text
THE THIRD BANK CLOSES. National Keystone Bank Closes— The Third Since the First of June. WEST SUPERIOR, Wis., July 31.The National Keystone bank, which closed its doors yesterday, was considered one of the strongest in the city. The immediate cause of the trouble was the closing of the Superior bank last Saturday, which caused a run on the Keystone. The Superior National bank was the one founded by Cadwallader, who about two years ago appropriated to him self about $65,000 and fled to Brazil, whence he was brought back and is now serving a term in the house of correction at Milwaukee. In addition to the withdrawal of general deposit there were heavy withdrawals of certificate money from the Keystone bank. The bank has suffered a heavy decline in deposits in recent months. The deposits have fallen from $280,000 as shown by the statement of May 8, to $227,447 as shown by the statement of July 11, and at the close of business yesterday there was about $178,000. This condition of affairs, together with the inability to make collections, necessitated the closing of the bank. C.P. Brush, the National bank examiner took charge. The bank had a capital of $200,000 and a surplus of $22,000. There was $98,000 city money and $150,000 general deposits. The bank's stockholders will take immediate steps to reorganize. On July 1, the date of the last official statement of the bank, the liabilities outside of the circulation were $259,744 including $12,000 notes and bills rediscounted and $20,000 bills pay able. The assets included $469,575 of loans and discounts, $34,102 stocks and securities, and $65,344.75 cash on hand and due from other banks. There were slight runs on some other banks in the city but it is thought everything is quieted down now. This makes three banks to have closed within the last 60 days.
2.July 31, 1895The Seattle Post-IntelligencerSeattle, WA
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Article Text
BANK FAILURES. West Superior, Wis. Has Lost Three in Sixty Days. West Superior, Wis., July 30.-The Keystone National bank closed its doors this morning. It was considered one of the strongest in the city. The immediate cause of the trouble was the closing of the Superior bank last Saturday, which caused a run on the Keystone National. The bank has suffered a heavy decline in recent months. The deposits have fallen from $280,000, as shown by the statement of May 8, to about $178,000 at the close of business yesterday. This condition of affairs, together with the inability to make collections, necessitated the closing of the bank. C. H. Brush, the national bank examiner, took charge. The bank stockholders will take immediate steps to reorganize. There were slight runs on some of the other banks in the city, but it is thought that everything has quieted down now. This makes three banks to have closed within the last sixty days. Denver, July 30.-Joseph T. Albert, national bank examiner for the district of Colorado, arrived in Denver today and took charge of the affairs of the Union National bank. It is thought that the examiner will be in a position to pay considerable dividends to depositors at the end of about ninety days. There were upwards of $300,000 cash in the vaults when the doors were closed yesterday, and in addition, a considerable amount is due from other banks, which will, of course, be speedily collected. It is reiterated with emphasis that the bank will pay dollar for dollar, without having to make a levy on stockholders. The city has $25,000 in the bank, the county about $70,000 and the state $50,000. Salisbury, Mo., July 30.-The Bank of Salisbury was closed this morning. No statement has been made.
3.July 31, 1895The Salt Lake HeraldSalt Lake City, UT
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BANK CLOSES. Keystone National of Wisconsin in Trouble. WEST SUPERIOR, Wis., July 30.The Keystone National bank closed its doors this morning. It was considered one of the strongest in the city. The immediate cause of the trouble was the closing of the Superior bank last Saturday which caused a run on the Keystone National. The bank has
4.August 1, 1895Richmond DispatchRichmond, VA
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WISCONSIN BANK SUSPENDS. Drain on Deposits Too Heavy-Will Probably Resume. WEST SUPERIOR, WIS., July 31.-The Keystone National Bank has been taken charge of by C. H. Brush, nationalbank examiner. The heavy drain of the last two months has laused the deposits to decrease from $280,000 to $227,747. The bank claims that its assets are $291,000, and its liabilities $259,747. The city had on deposit $89,000 and the State $15,000. Other local depositors bring the amount up to $187,000. It has always been considered one of the strongest institutions in the city, and since 1890 has paid good dividends to its stockholders. The assets are amply large to protect all depositors, and in all probability the bank will resume in the near future.
5.August 1, 1895The Daily TexarkanianTexarkana, AR
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Article Text
The National Keystone Bank, of West Superior, Wisconsin, has gone under. It was thought to be as solid as a stone, but a run on it proved disastrious.
6.August 1, 1895The Daily TexarkanianTexarkana, AR
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CO., aucur real estate. They still go to Dalby Springs from this city. We would like to hear from "Mary" once more. We met several old acquaintances today on their way to Clarksville, Texas to take in the confederate re-union. The editor came down today, and stopped for a few minutes, but returned home. He thinks he will be up all right tomorrow. Fresh bread at 5 o'clock every and day, early morning at Street. City Bakery No. 210 West Broad OTTO BERCHTEN. It looks much like rain. We think a shower is coming to us just about this time, and we shall not kick, unless a cyclone comes along with it. The National Keystone Bank, of West Superior, Wisconsin, has gone under. It was thought to be as solid as a stone, but a run on it proved disastrious. District court for the Texarkana, Texas, District, will open here on the 7th of October and hold three weeks, so we have been informed by deputy Sheriff Payne. A freight train was attacked by some one, or party of men near Van Buren while running and the was shot and engineer in the face the brakeman hit with a stone. If wearing bifurcated skirts and "straddling" a bicycle will consign a woman's soul to perdition, the man who wears a "surcingle" will not land far short of the same spot. Mr. and Mrs. L. L. Marshall and their charming little daughter, Golda, left this morning on the T.C. cannon ball, to visit their old home in Parsons, Kansas. They will be gone about six weeks. Prof. W. W. Robertson was joinhere by his talented who will add grace, ed wife, yesterday much and to our social We in circles. youth speak beauty for welcome. the people giving her a hearty The negro Edwards, shot by Zeb Richardson, yesterday at Eylau, was only "winged." The bullet struck him near the hip in the side and glanced off. Five shots were fired at him, but only one did any duty. Mr. Charles Wilkerson and wife have returned from Arcada, Mo. Mr. Wilkerson's looks show plainly that the trip has benefited him He said greatly. he could tell the difference in the atmosphere as soon as he landed here. Hope and Lewisville, A kansas base ball teams played " game of ball at Hope on Tuesday evening. The Lewisville boys were beaten. We see from the Call that Guy Trimble acted as catcher for Lewisville. The game stood 21 to favor of Hope. "Labor Day" has come to stay with us as a holiday and the men at the head of the movement are confident of having a thousand men in on the hope man can every line laboring day of parade. who We walk will be in line on the 2nd of September and make it a memerial one. The prosperity of this country must depend upon the young men of in this there this country. city preparing How many them- are selves to battle with the ups and downs after "daddy is gone." Come "Cigarette," "German" and "Beau Brummel" get a push on your freight. The colored Odd Fellows of this
7.August 3, 1895The Kootenai HeraldBonners Ferry, Kootenai, ID
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West Superior Bank Closes. West Superior, Wis., July 30.-The Keystone National bank closed its doors this morning. It was considered one of the strongest in the city. The immediate cause of the trouble was the closing of the Superior bank last Saturday, which caused a run on the Keystone National.
8.August 3, 1895The Silver BladeRathdrum, ID
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West Superior Bank Closes. West Superior, Wis., July 30.-The Keystone National bank closed its doors this morning. It was considered one of the strongest in the city. The immediate cause of the trouble was the closing of the Superior bank last Saturday, which caused a run on the Keystone National.
Don't fail to have a load of tobacco at the Capitol on August 22d and 23d. UN-"SOUND MONEY" MEN. The Keystone National Bank, West Superior, Wis, has been closed by a bank examiner. Its affairs are said to be in a very un "sound" condition. The bank at Mexico, Mo., has been closed by a bank examiner, who says 40,000 "sound dollars" are missing. The Christian Barbee Drug Company, Roanoke, Va., assigned on the 6th. Liabilities about $6,000. The Rocky Mountain Savings Bank, Denver, Col., got struck by the wave of "returning prosperity," and went the way of many other "sound money" banks last week. James A. Mc Gregor, Erin, Tenn., manufacturer of staves, assigned just after the wave of "returning pros perity" struck him. Liabilities 35,000 "sound" dollars, mostly due banks. The Citizen's State Bank, South Sioux City, Iowa, a "sound money" bank, is closed. Liabilities 20,000 un sound dollars; assets 13,000 sound dollars. Hearst, Dunn & Co., manufacturers of farm implements, Peoria, Illinois, assigned Thursday Liabilities $123 000 The wave of "returning prosperity did it. The prosperity wave isn't particular about who it knocks down. Smith & Wall, Madison, N. C., assigned last week. Liabilities about 2,500, "sound dollars." L E Wright & Co., dry goods, Ox. ford, N. C., were struck by the wave of "returning prosperity. They assigned. Liabilities $17,000.
10.August 15, 1895Evening StarWashington, DC
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Bank Receiver Appointed. The controller of the currency has appointed Gilbert G. Thorn receiver of the Superior National Bank of West Superior, Wis. Mr. Thorn is also receiver of the Keystone National Bank of the same city. These banks failed recently.
11.August 16, 1895Rock Island ArgusRock Island, IL
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Appointed Temporary Receiver. WASHINGTON, Aug. 16.-The comp. troller of the currency has appointed Gil. bert G. Thorne temporary receiver of the Keystone National bank of Superior Wis,
12.August 16, 1895The HeraldLos Angeles, CA
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Appointed Receiver WASHINGTON, August 15. -The comptroller of the currency has appointed Gilbert G. Thorne temporary receiver of the Keystone National bank of Superior, Wis.
13.August 16, 1895The Salt Lake HeraldSalt Lake City, UT
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DOMESTIC DOTS. Telegraph News from All Parts of the Land Over Which the Stars and Stripes Wave. WASHINGTON.-The comptroller of the currency has appointed Gilbert G. Thorne temporary receiver of the Keystone National Bank of Superior, Wis.
14.August 16, 1895St. Paul Daily GlobeSaint Paul, MN
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Receiver of the Keystone. WASHINGTON, Aug. 15.-The comptroller of the currency has appointed Gilbert G. Thorne temporary receiver of the Keystone National bank, of Superior, Wis.
15.September 27, 1895St. Paul Daily GlobeSaint Paul, MN
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West Superior Failure. WEST SUPERIOR, Wis., Sept. 26.Matt C. Burke filed a voluntary assignment in the circuit court this morning, turning over all his property for the benefit of creditors. The assets are estimated at $3,400 and liabilities at $11,000. Burke is a large contractor here and a very prominent citizen. He is on the bonds of the suspended Keystone National bank, in which he is a stockholder, and feared the city was to hold him to his liability, which he is unable to pay at this time. Burke has large contracts in other cities, notably sewer work at Chicago.
16.October 24, 1895St. Paul Daily GlobeSaint Paul, MN
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STATE WOULD BE NO. 1 In Case of Failed Banks at West Superior. Special to the Globe. WEST SUPERIOR, Wis., Oct. 23.Attorney General Mylrea, of Madison, appeared before the circuit court tonight and asked that the state of Wisconsin be made preferred creditor of the Douglas County bank. It is probable that the petition will be granted in the morning. The assignee of that institution has promised to deliver $5,000 to the state deposit of $23,000 tomorrow night, and the bondsmen will not be prosecuted unless they show a disposition to evade liability. The Keystone National bank, which also suspended, owes the state $16,000, and at the conference this afternoon the bondsmen agreed to raise that amount whenever the demand is made. It probably will not be asked for, as they are reorganizing. All the bondsmen are prominent citizens. Resolutions were adopted at the council meeting last night ordering the city attorney and committee of aldermen to investigate the conditions of the Superior National, the Douglas County and the Bank of South Superior, with a view of starting criminal prosecutions against the officers. The resolutions were introduced for the reason that the city appears to have lost a large amount by the failure of the banks, alleged to be due to reckless and negligent management. Also because it is reported, and appears to be a fact, that a large amount of deposits were loaned to its officers, directors and stockholders and to concerns in which they were interested, and that such persons and concerns were at the time loans were made notoriously insolvent, and because it appears that Superior National bank held back from publication its last report, showing that it was insolvent for a period of twelve days, during which it received all deposits which were offered.
Depositors Get a Slice. WEST SUPERIOR, Wis., Nov. - -The first dividend collected by Receiver Thorne out of the assets of the suspended Keystone National bank is now being paid to the depositors, and a further payment is expected in the near future. The first dividend is 5 per cent.
18.February 20, 1896Wood County ReporterWisconsin Rapids, WI
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Representative Gamble, of South Dakota, thinks the free home bill will pass in spite of the great opposition. It would affect lands on the Sissiton, Yankton and Sioux reservations in South Dakota.
Priceless tapestries and beautiful vases selected from the collection of his imperial Japanese majesty the mikado, constitute the offering of friendship and esteem which the Oriental sovereign has sent through his minister to Mrs. Walter Q. Gresham, widow of the late secretary of state.
Mr. Pickler has introduced a bill appropriating $100,000 for the establishment of a sanitarium at Hot Springs, S. D., to be under the control of the board of national soldiers' homes and used exclusively as a home for diseased ex-soldiers. Mr. Pettigrew will introduce a similar bill in the senate.
The proposition of the suspended Keystone National bank at West Superior to settle with the city for its deposit has been made by W. E. Mc-Cord, who is on the bank's bond for a large amount, he offering to buy the city's and board of education's claims for 50 cents on the dollar. The bank had a city deposit of $80,000.
The Italian colony in San Francisco, is considerably agitated over the discovery that Pietro Gori, the anarchist who was said to have incited Santo Caserio to murder President Carnot, is shadowing Prince Luigi, the nephew of King Humbert, of Italy, who arrived there last week on the war ship Christopher Colombo.
19.August 28, 1897The Superior TimesSuperior, WI
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CAN SELL ASSETS. Order Granted to Receiver of the Keystone National Bank. Madison, Wis., Aug. 24. [Special. The receiver of the Keystone National bank at West Superior was this morning authorized. through an order issued by Judge Seaman, sitting for Judge Bunn in the federal court. to sell the assets of that institution. This permission which was given on otion of E. C. Kennedy of Superior was granted on the ground that not enough money was coming in to defray the expenses of the receivership.
20.August 19, 1899The Superior TimesSuperior, WI
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FINAL DIVIDEND. Creditors of Keystone National Bank of West Superior Get 49.2 Per Cent. Washington, D. C., Aug. 14.-[Special.] -A final dividend of 2.2 per cent. was today declared by the comptroller of the currency in favor of the creditors of the Keystone National bank of West Superior, making in all 49.2 per cent. on claims proved. amounting to $141,656.40. Assistant Secretary of the Treasury Taylor will arrive here this evening from his trip East, where he has been for several weeks. Stevens Point, Wis., Aug. 14.-By the recent sale of some real estate Receiver Pfiffner of the old Commercial bank has been enabled to declare another dividend of 4 per cent., making a total of 69 per cent. that has been turned over to the creditors since April 1. 1895. This practically winds up the affairs of the bank.
21.January 18, 1902The Labor WorldDuluth, MN
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NOTICE OF LIS PENDENS. STATE OF MINNESOTA, COUNTY of St. Louis-ss. District Court, Eleventh Judicial District. John M. McClintock and James WanPlaintiffs. less, vs. John McKinley, Alice S. McKinley, F. L. Buell. First National Bank of Richfield Springs, New York; The First National Bank of Duluth; Albert B. Geilfuss. Assignee: W. H. Timlin; W. J. Powers and H. D. Powers. co-partners as W.. J. & H. D. Powers; Robert B. Whiteside; First National Bank of Cooperstown: The Second National Bank of Mauch Chunk. Pennsylvania; Bank of Baldwin: John T. Murphy as receiver of Keystone National Bank of West Superior; Thomas S. Buckham: S.J.
22.March 8, 1902The Labor WorldDuluth, MN
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STATE OF MINNESOTA, COUNTY
of St. Louis-ss. District Court,
Eleventh Judicial District.
John M. McClintock and James Wan-less, Plaintiffs,
vs.
John McKinley, Alice S. McKinley, F. L. Buell, First National Bank of Richfield Springs, New York: The First National Bank of Duluth; Albert B. Geilfuss, Assignee; W. H. Timlin; W. J. Powers and H. D. Powers, co-partners as W. J. & H. D. Powers; Robert B. Whiteside; First National Bank of Cooperstown; The Second National Bank of Mauch Chunk, Pennsylvania; Bank of Baldwin; John T. Murphy as receiver of Keystone National Bank of West Superior; Thomas S. Buckham; S. J. Wright; W. S. Jackson: Louis B. Henry and Walter L. Badger as receivers of Northern Trust Company: First National Bank of Arcanum,
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.
