gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
85e492a99d6dc8b1
Response Measures
Full suspension, Books examined
Other: Receiver appointed by Comptroller of the Currency following examiner report (receivership/closure).
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1903-11-04
Date receivership terminated
1908-09-30
OCC cause of failure
Excessive lending
Share of assets assessed as good
29.4%
Share of assets assessed as doubtful
66.5%
Share of assets assessed as worthless
4.1%
Description
Closure attributed to deposit shrinkage from a long miners' strike and examiner finding insolvency.
Events (5)
1.September 25, 1900Chartered
Source
historical_nic
2.November 4, 1903Receivership
Source
historical_nic
3.November 4, 1903Receivership
Newspaper Excerpt
The First National bank of Victor has closed its doors by order of Bank Examiner Lazeare...the examiner having reported the bank to be insolvent. James B. Lazear, national bank examiner, was appointed receiver.
Source
newspapers
4.November 4, 1903Run
Cause
Local Shock
Cause Details
Shrinkage of deposits resulting from a long miners' strike led to withdrawals and a quiet run.
Newspaper Excerpt
A quiet run on the bank had been in progress for several days.
Source
newspapers
5.November 4, 1903Suspension
Cause
Government Action
Cause Details
Closed by order of the bank examiner/comptroller after shrinkage of deposits and reported insolvency.
Newspaper Excerpt
The First National bank of this city ... closed its doors shortly before 2 o'clock this afternoon. A notice was posted saying that the bank was in the hands of the comptroller of the currency.
Source
newspapers
Newspaper Articles (18)
1.November 5, 1903Arizona RepublicanPhoenix, AZ
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Article Text
A CONSEQUENT FAILURE. Pueblo, Colo., Nov. 4.-The Pueblo Title and Trust company of this city, one of the principal stockholders in which is the Woods Investment company, has announced a voluntary assignment for the protection of its depositors. The reason given is that sufficient cash to meet a run that was considered inevitable after the suspension of the First National bank at Victor could not be raised at once. Secretary Samm of the company announces that the deposits are $250,000 and the assets are $450,000.
SHORT NEWS NOTES FROM EVERYWHERE Doings of the Day Reflected and Condensed for Busy Readers THE HISTORY OF THE WORLD Told in Short Paragraphs--The Latest Intelligence from All Sources Everett, Wash.--Angus McPhail, a who a saloonkeeper, rival May, murdered convicted business last was of the first degree, the jury hanging as recommending murder in the penalty for the crime. McPhail will appeal. Memphis, Tenn.,-A distinct earth quake shock was felt all over Memphis Wednesday morning. No damage was done, but in a number of instances tenants in hign buildings hastened to the street. Another distinct shock occurred at 1:15 p. m. Stroud, Ckla.-Nine miles southwest of Stroud, an unknown nian rode up to the house of Mrs. Ames, shot and killed Mrs. Ames and the hired man, Henry Jackson, and seriously Miss Ames, aged the wounded her through shoulder. 19, The known. shooting murderer escaped. No motive is Edgemont, S. D.-A posse has reached here with nine bucks and twelve squaws of the party of Sioux that killed Sheriff Miller and Deputy Falkenburgh in Wyoming. They were captured on the Cheyenne river near the South Dakota line. Other members of the band eluded the posse and escaped. a Kansas City.-In all probability general strike of the union employes of the local packing houses will be ordered within the next twenty-four hours as an outcome of the sausagestrike at Chicago. in of the makers' this city Amalgamated Officers Meat Cutters and Butchers union received word to prepare for a strike order. San Francisco.-John Jenkins, United States consul general at San Salvador, arrived on the steamer San Juan. He recently obtained from President Esalon of Salvador a promise to pay G. W. Burrell of Oakland and his associates $125,000 for the construction of a bridge over the Lempa river. The money is to be paid in installments. Constantinople.-The British, German, French and Italian ambassadors visited the porte Tuesday and notified the Turkish officials that they were in receipt of instructions from their respective governments to support the Austro-Russian reform scheme. The porte objected to the control feature of the reforms. Orders have been issued for the disbandonment of ninetysix battalions of reserves. Victor, Colo.-The First National bank of this city, a controlling interwhich is owned by Woods est Investment in company, closed Wednesday the its doors before 2 o'clock A notice was afternoon. shortly hands posted of say- the ing the bank was in the comptroller of the currency. The d bank's capital is $50,000. The deposits amounted to $300,000. A quiet run on the bank had been in progress for several days. Mont.-The transcript of the in the case Helena, proceedings of John McGinniss vs. the Boston and Montana and the Silver Mining companies, and others, was filed in the supreme court. This is the case in which Judge Clancey of Butte granted an injunction restraining the Amalgamated Copper company from voting stock of the Boston and Montana company, which resulted in the closing of all Amalgamated properties in n the state. St. Louis.-This city and vicinity experienced a decided earthquake, or series of shocks at 12:30 Wednesday afternoon. There is a difference of as to how many. The earthwas perceptible all over and was mostly felt opinion city quake in the high the blocks in the secthe city. One a tion business of down-town occupant chandeller of building said his three inches. east to west. , high swung was from The A movement message from Louisiana, Missouri, says that perceptible shock was felt there about the same time.
3.November 5, 1903Lewiston Evening TellerLewiston, ID
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Article Text
BI-METALLIC ALSO FAILS Failure of Title & Trust Company Closes Branch Institution CRIPPLE CREEK, Col., Nov. 5.-The Bi-Metallic bank of this city failed to open for business this morning. Its failure is due to the suspension of the First National of Victor which failed yesterday. The Bi-Metallic was capitalized at $100,000 and had nearly a quarter of a million deposits.
4.November 5, 1903The Indianapolis JournalIndianapolis, IN
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Article Text
National Bank Closes Its Doors. VICTOR, Col., Nov. 4.-The First National Bank of this city, a controlling interest in which is owned by the Woods Investment Company, closed its doors shortly before 2 o'clock this afternoon. A notice was posted saying that the bank was in the hands of the controller of the currency. The bank's capital is $50,000. The deposits amounted to about $300,000. A quiet run on the bank has been in progress for several days.
5.November 5, 1903The Savannah Morning NewsSavannah, GA
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Article Text
Colorado Bank Closes. Colorado Springs, Col., Nov. 4.-A special to the Gazette from Victor, Col., says that the First National Bank of Victor closed its doors to-day by order of Bank Examiner Lazeare. Shrinkage of deposits as a result of the long continued miners' strike is given as the reason for suspending business. President F. M. Woods states that all depositors will be paid in full. The bank's capital is $50,000 and deposits $304,000.
Colorado Bank Closed. Colorado Springs, Colo., Nov. 5.-A special to the Gazette from Victor, Colo., states that the First National bank of Victor has closed its doors by order of Bank Examiner Lazeare. Shrinkage of deposits as a result of the long continued miners' strike is given as the reason for suspending business. President F. M. Woods states that all depositors will be paid in full. The closing of the bank causes no apprehension in financial circles either in Cripple Creek or Colorado Springs.
7.November 5, 1903The Salt Lake HeraldSalt Lake City, UT
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Article Text
COLORADO BANK BROKE First National at Victor Too Liberal in Backing Mining Enterprises. Victor, Colo., Nov. 4.-The First National bank of this city, a controlling interest in which is owned by the Woods Investment company, closed its doors shortly before 2 o'clock this afternoon. A notice was posted saying that the bank was in the hands of the comptroller of the currency. The bank's capital is $50,000. The deposits amounted to about $300,000. A quiet run on the bank had been in progress for several days.
8.November 5, 1903The Washington TimesWashington, DC
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Article Text
NATIONAL BANK FAILS IN VICTOR, COLORADO Notice was received yesterday by the Comptroller of the Currency of the closing of the First National Bank of Victor, Col. For several days there has been a quiet run on the institution. The bank's capital is $50,000 and the deposits $304,000. Loans and discounts amounted to $231,000.
9.November 6, 1903Daily Kennebec JournalAugusta, ME
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Article Text
The Pueblo Title and Trust Co. of Pueblo, Col., the principal stockholders in which is the Wood's Investment Co., has anounced a voluntary assignment for the protection of its depositors. The reason given is that sufficient cash to meet a run that was considered inevitable after the suspension of Wednesday, of the First National Bank at Victor, could not be raised at once. Sec. Small of the company, anounces that the deposits are 2$50,000 and the assets $450,000.
10.November 6, 1903The Barre Daily TimesBarre, VT
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Article Text
A Colorado Trust Company Suspends. Pueblo, Colo., Nov. 6.-The Pueblo Title and Trust company of this city, the principal stockholder in which is the Woods Investment company, has announced a voluntary assignment for the protection of its depositors. The reason given is that sufficient cash to meet a run that was considered inevitable after the suspension of the First National bank at Victor could not be raised at once. Secretary Small of the company announces that the deposits are $250,000 and the assets $450,000.
COLORADO BANK CLOSED. Shrinkage of Deposits Results From Miners' Strike. Colorado Springs, Colo., Nov. 5.-A special to the Gazette from Victor states that the First National Bank of Victor has closed its doors by order of Bank Examiner Lazeare. Shrinkage of deposits as a result of the long continued miners' strike is given as the reason for suspending business. President F. M. Woods states that all depositors will be paid in full.
12.November 7, 1903The Intermountain CatholicSalt Lake City, Denver, UT
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Article Text
COLORADO BANK TOO LIBERAL. Victor, Colo., Nov. 4.-The First National bank of this city, a controlling interest in which is owned by the Woods Investment company, closed its doors shortly before 2 o'clock this afternoon. A notice was posted saying that the bank was in the hands of the comptroller of the currency. The bank's capital is $50,000. The deposits amounted to about $300,000. A quiet run on the bank had been in progress for several days.
13.November 7, 1903The Labor WorldDuluth, MN
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Article Text
COLORADO BANK CLOSES ITS DOORS VICTOR, Colo., Nov. 4.-The first National bank of this city, a controlling interest of which is owned by the Woods Investment Co., closed its doors shortly before 2 o'clock this afternoon. A notice was posted saying that the bank was in the hands of the comptroller of the currency. The bank's capital is $50,000. The deposits amounted to about $300,000. A quiet run on the bank had been in progress for several days.
14.November 7, 1903The Labor WorldDuluth, MN
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Article Text
TRUST CO. FAILS. PUEBLO, Colo., Nov. 4.-The Pueblo Title and Trust company, of this city, the principal stockholder in which is the Woods Investment company, has announced a voluntary assignment for the protection of its depositors. The reason given is that sufficient cash to meet a run that was considered inevitable after the suspension of the First National bank at Victor, could not be raised at once.
15.November 12, 1903Iron County RegisterIronton, MO
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Article Text
The First national bank of Victor, Col., was closed, on the 4th, by direction of the acting comptroller of the currency, the examiner having reported the bank to be insolvent. James B, Lazear, national bank examiner, was appointed receiver.
Another Colorado Bank Closes. Victor, Colo., Nov. 6.-The First National bank of Victor, a controling Interest in which is owned by the Woods Investment company, has closed its doors. A notice was posted saying that the bank was in the hands of the comptroller of the currency. The bank's capital is $50,000. The deposits amounted to about $400,000. A quiet run on the bank had been in progress several days.
17.November 17, 1903The Washington TimesWashington, DC
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Article Text
BANK RECEIVER APPOINTED. Comptroller of the Currency Ridgley yesterday appointed Francis A. Chapman receiver of the First National Bank of Victor, Col., which failed 10 a few days ago, Mr. Chapman received the indorsement of the Colorado Representatives in Congress and business men generally in Denver.
18.November 18, 1903Evening Times-RepublicanMarshalltown, IA
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Article Text
Bank Receiver Appointed. Washington, Nov. 17.-Comptroller of the Currency Ridgely yesterday appointed Francis A. Chapman receiver of the Firts National bank of Victor, Col, which failed a few days ago. Mr. Chapman received the endorsement of the Colorado representatives in congress and the business men generally in Denver.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
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