Article Text
TWO BANKS FAIL. Cheney, Wn., June 15.-The First National Bank and the Bank of Cheney suspended payment today and did not open for business. Hard collections and inability to place securities are the principal causes of the failures.
First National Bank (Cheney, WA)
Episode Information
- Episode UID
454201158- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
45420national - Charter Number
- 4542
- Start Date
- June 15, 1896
- Location
- Cheney, Washington (47.487, -117.576)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
547230ae2455d621
Response Measures
None
Receivership Details
- Depositor recovery rate
- 58.0%
- Date receivership started
- 1896-06-27
- Date receivership terminated
- 1899-09-21
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 21.1%
- Share of assets assessed as doubtful
- 75.6%
- Share of assets assessed as worthless
- 3.3%
Description
Articles report suspension June 15, 1896 and subsequent receivership actions; known receivership date provided.
Events (4)
1.
April 1, 1891
Chartered
- Source
- historical_nic
2.
June 15, 1896
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Hard collections and inability to place securities caused suspension.
- Newspaper Excerpt
- The First National Bank and the Bank of Cheney suspended payment today and did not open for business.
- Source
- newspapers
3.
June 27, 1896
Receivership
- Source
- historical_nic
4.
June 27, 1896
Receivership
- Newspaper Excerpt
- D. F. Percival, receiver of the First National bank of Cheney, has commenced suit... (articles refer to D. F. Percival as receiver).
- Source
- newspapers
Newspaper Articles (11)
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Article Text
Two Banks at Cheney Fail. Cheney, Wash., June 15.-The First National bank and the Bank of Cheney have suspended payment, and today did not open their doors. The directors of the First National bank held a meeting last evening and concluded to take this step. Hard collection and inability to place securities are the principal reasons of the suspension. The First National deposits are small and will probably be paid in full. The affairs of the Bank of Cheney are a matter of speculation, as President Percival is absent and nothing definite can be ascertained. D. F. Percival is president of both banks.
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Article Text
More Prosperity in Washington. Cheney, Wn., June 16.-The First National bank and the Bank of Cheney have suspended payment. Hard collections and inability to place securities are the principal reasons for the suspension. The First National deposits are small and will probably be paid in full. The affairs of the Bank of Cheney are a matter of speculation, as President Percival is absent and nothing definite can be ascertained.
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Article Text
Manks Suspend. CHENEY, Washn., June 16,-The First National Bank and the Bank of Cheney have suspended payment. Hard collections and inability to place securities are the principal reasons of suspension. The First National deposits are small and will probably be paid to full. The affairs of the Bank of Cheney are a matter of speculation, 88 Presi. dent Percival is absent and nothing definite can be ascertained.
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Article Text
DID NOT OPEN FOR BUSINESS Both Banks at Cheney Have Closed Their Doors. Cheney, Wash., June 15.-The two banks here have suspended payment and did not open up for business this morning. The directors of the First National bank held a meeting last evening and concluded to take this step. Hard collections and inability to place securities are the principal reasons. The First National deposits are small and will be paid in full. merely a matter of speculation, as the a merely matter of speculation, as the president is absent in Portland and nothing definite can be ascertained. His return is expected today or tomorrow.
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Article Text
DID NOT OPEN FOR BUSINESS Both Banks at Cheney Have Closed Their Doors. Cheney, Wash., June 15.-The two banks here have suspended payment and did not open up for business this morning. The directors of the First National bank held a meeting last evening and concluded to take this step. Hard collections and inability to place securities are the principal reasons. The First National deposits are small and will be paid in full. merely a matter of speculation, as the a merely matter of speculation, as the president is absent in Portland and nothing definite can be ascertained. His return is expected today or tomorrow.
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Article Text
CASHORTHORSESOON CURRIED." The States furnish many articles similar to the following: "Cheney, Wash-The first national bank and the bank of Cheney have suspended payment." How many notices of bank failures do you see in this free silver republic? [Chihuahua Enterprise. How many banks are there in the republic? Very few. So few that a single failure would present an apalling per centage.
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THE States furnish many articles similar to the following: "Cheney, Wash-The first national bank and the bank of Cheney have suspended payment." How many notices of bank failures do you see in this free silver republic?-Chihuabua Enternrise
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Article Text
Duit on Cheney Bank Stock. Special Dispatch to the Post-Intelligencer. CHENEY, Wash, April 27.-D. F. Per. cival, receiver of the First National bank of Cheney, has commenced suit against D. F. McAloon and F. M. Quinlan for the recovery of 23 per cent. of the value of shares of stock held by them when the bank suspended. This suft is to be of test for several similar cases.
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Article Text
NORTHWEST NEWS. The Tacoma and Everett smelters are trying to secure the contracts for smelting the ore of the Le Roi mine. C. J. Bidwell will build the Blaine-Ferndale road, the contract having been recently awarded to him. He will receive $12,684 for his work. The Northern Pacific has declaed not to put the Sunday train on the Moscow branch. This cuts Moscow off without a day train on either road on Sunday. It was because he experienced a slight difficulty with the machinery that Harry Kinsman, an employe of the Wellington Farm Creamery, near New Westminster, blew out his brains last Friday. Fish Commissioner Crawford is in Whatcom. He has just come from Baker lake, where he has been attending to the turning loose of his numerous family of 6,000,000 young salmon in the Skagit river. Detective McPhee, of Spokane, who was recently shot by a thief, will have an X-ray turned on him in the hope of locating the bullet, which is buried in the skull. Specialists will have charge of the work. A letter has been received from the comptroller of the currency refusing to make a change in the receiver of the First National bank of Cheney. The depositors petitioned for a new receiver some time ago. The May term of federal court began at Walla Walla Tuesday and among the federal officials in attendance are Judge Hanford, R. M. Hopkins, United States Marshal Drake and United States District Attorney Brinker. When Pat Hamilton and Edward Kennedy were arrested at Walla Walla last Monday evening for burglary, Hamilton said to the chief of police: "You let me break away, and I will permit you to kill me." The chief declined the offer. A cow belonging to William Smidtlapp, of Whatcom, caught little Bobby Kratzig, 3 years old, on her horns and tossed him up over her head last Sunday. He lit on her back and slid off. Torn clothes and a few bruises were all the injuries sustained. The cow had a small calf with her and objected to the boy coming too close. Renewed efforts are being made to secure the pardon of Clayton Bump, the Spokane boy serving a ten-year sentence in San Quentin for being implicated in the robbery of a depot agent in Southern California. Gov. Budd has heretofore refused to listen to Bump's petitions for pardon, although they have been signed by many influential, people of the Pacific Coast.
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Article Text
CHENEY BANK DIVIDEND. First National Soon to Make a Payment of 30 Per Cent. Special Dispatch to the Post-Iptelligencer. CHENEY, May 28.-D. F. Percival. receiver of the First National bank of Cheney announces that the bank will pay a dividend of 30 per cent. as soon as the proper schedules can be made out and sent to the comptroller of the currency at Washington for his approval. The bank closed its doors about a year ago and this will be the first money paid to the depositors. The depositors think another dividend will be declared soon.