Bank of Ruby (Ruby, AK)

Episode Information

Episode UID
7337502291422
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
733750229 hash
Start Date
June 15, 1918
Location
Ruby, Alaska (64.739, -155.487)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5707bd9f8b9d2a1e

Response Measures

None

Events (1)
1. June 15, 1918 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank sold all assets to Northern Commercial Company and closed due to lack of support; management elected to quit business.
Newspaper Excerpt
The Bank of Ruby has sold all of its assets to the Northern Commercial Co. and closed its doors on June 15.
Source
newspapers

Newspaper Articles (5)
1. June 22, 1918 Iditarod Pioneer Iditarod, AK
Article from Iditarod Pioneer, June 22, 1918

Click image to open full size in new tab

Article Text

NEWS FROM RUBY (Record-Citizen, June 1.) The Bank of Ruby has sold all of its assets to the Northern Commercial Co. and closed its doors on June 15. It is regretted by the officials of the bank that this step was necessary but a lack of support has made the venture anything but profitable, and they did not feel that the outlook for this camp from a banking standpoint warranted running the business at a loss. Seward Baggerly, locala agent for the Pacific Cold Storage Co. has been advised that his company has sold all of their stations iu Alaska to Waechter Bros. The transfer took place May 31. Grave concern about Knute Helenius. who carried mail during the winter between Ruby and Tanana is in evidence among his many friends. It is reported he left Tanana to consult with Dr. Smith, the noted surgeon of that place. He left on skies and was met by Coke Hill one day out of Ten-

2. July 8, 1918 The Alaska Daily Empire Juneau, AK
Article from The Alaska Daily Empire, July 8, 1918

Click image to open full size in new tab

Article Text

erating on the Tanana and its tribu taries, is now in a sunken condition at the mouth of the small slough just below the Dominion Commercial Company warehouse. The water is about half way up to the house and much silt is on the engine. The Dan will not be raised or put in repair until the water goes down, says the Fairbanks Citizen. On Boulder Creek of the Iditarod section two outfits are planning on working this Summer. Anderson and Kline are opening up some ground near the mouth which they claim will pay to work. Frank O'Leary is working just below them. Since the beginning of the camp considerable work has been done on Boulder Creek but not until now has workable pay been found. A call for bids has been issued by Lieut. Ove. M. Olson, acting quartermaster of the 14th Infantry at Fort Gibbon, for the erection of barracks at that place. The specifications for the building are at the various stations throughout the Interior. M. B. Dahl, formerly with the Northland Trading and Packing Company, has organized a $30,000 company to engage in mild curing. The new company is the M. B. Dahl Company, and Mr. Dahl is its manager. will Wranhis operations gell, His headquarters though be at will take him as far North as Port Alexander. Having missed the inspectors for her annual inspection the Americ was taken to Seattle to andergo inspection there. The Americ is owned in Petersburg by Hogue and Tveton. S. L. Hogue accompanied the vessel South, and will bring a cargo of merchandise North when she returns. Hans Hanson and Miss Guri Otness of Petersburg were married at that place last month. Max Smith, for many years con nected with the Northern Commercial Company at Fairbanks, Nulato and Nenana, has left Alaska for the Outside. W. E. Terrill and the Fairbanks Gold Mining Company have started work on their new dredge which is being erected on Fairbanks Creek. Ninety-six hours without food or shelter, being out alone in the woods in the flooded section between Olnes and the Snowshoe road house is the harrowing experience related by Mrs. J. M. Harris of the Aatalinka road house. Mrs. Harris arrived in Fairbanks in a shaken condition as the result of an experience that few women have ever gone through, and which only the Alaska fortitude and stamnia could have combatted. She has left for the Outside. A letter received from R. D. (Dug) Morgan by the last mail states that Dug, who was so many years with the News-Miner as linotype man. and who was the town's crack shot and first class violinist, is now located in his old home town of Vienna. Virginia, where he is running the linotype on the Vienna Herald for amusement and helping work the farm of his aged parents as a business. (Fairbanks News-Miner.) A mother fox of Peter Vachon's died a few days ago on his fox farm at Birch Hill. says the Fairbanks News-Miner, and Pete brought the pups to town to raise by hand. They were all blacks and silver grays, and yesterday one of the pups died. NENANA-T remains of William F. Carpenter, whose body was discovered lying in a slough yesterday with the throat cut, was buried today. The body was so badly decomposed that removal was impossible, and it was buried at the place where found. The Bank of Ruby has sold all of its assets to the Northern Commercial Company June 1st, and on June 15th it closed its doors and quit business. The Pacific Cold Storage Company has sold all of its Alaska stations. all located in the Interior to Waechter Brothers. The latter are now the only big meat company operating on the Yukon River.

3. July 9, 1918 The Daily Alaskan Skagway, AK
Article from The Daily Alaskan, July 9, 1918

Click image to open full size in new tab

Article Text

BANK OF RUBY QUITS BUSINESS The Bank of Ruby sold all of its assets to the Northern Commercial Co. and closed its doors on June 15. The officials of the Bank found the step necessary by reason of the fact that lack of support has made the venture anything but profitable and they did not feel that the outlook for this camp from a banking standpoint warranted running the business at a loss. The following is a copy of a letter sent to all of the Bank's depositors: Dear Sir: "The Northern Commercial Company having purchased all the assets of the Bank of Ruby, this bank will close on June 15th, and deposits should be withdrawn before that date. Any deposits still on hand on June 15th will be paid by the North ern Commercial Company on demand. Yours truly, BANK OF RUBY, A. J. DAY, Vice Pres. & Cashier. The above is in accordacne with our agreement with the Bank. NORTHERN COMMERCIAL CO Volney Richmond, Superintendent. a The closing of the bank is distinct loss to the town and in fact @ to the district in general..

4. August 27, 1918 The Nenana Daily News Nenana, AK
Article from The Nenana Daily News, August 27, 1918

Click image to open full size in new tab

Article Text

main there during the winter. On Ketchum creek, a tributary of the Salatna river, Warren has found fairly good pay, and Harry Boland and partner have also found fair pay there. They intend taking out winter dumps. Frank Carpenter, who has been doing considerable prospecting with a drill, is reported to have struck good pay, but what he will do this winter is not known. He may take out a dump. Nobody has come into the Ruby district this season, while the exodus has been steady and those who have not already gone Outside, are figuring on getting out this fall. A great many houses in the town of Ruby are boarded up, as the owners have left. The bank of Ruby, as well as the newspaper have closed. The N. C. Co. have bought out Johnson & Jepson's store and stock, and are about the only people in the district that are doing any business. Haarvei's store is still running, but they are not doing a great deal of business. The draft appears to have hit Ruby hard, and with those volunteering, has practically depleted the ranks of the mining men.

5. December 19, 1918 The Alaska Daily Empire Juneau, AK
Article from The Alaska Daily Empire, December 19, 1918

Click image to open full size in new tab

Article Text

withdraw tied up in Government now before Conlegislation an attractive When has been enacted, to the prosgress field will be opened able up to bear the pector financially incident to oil exploration. expense Police of the Protection incorporated protection towns Outside but little police various there is afforded by the various except as afforded by the for except as special employees traffic wardens and of the liquor marshals hemmed among the suppression the Natives. around The with re for striction offices are concerning expenditures which makes detection of crime, prevent crime the impossible lawbreakers to after it almost down A recor to run has been committed. the estab a crime is made for to commendation a Federal contabulary lishment law of and prevent crime. enforce Alaska Game the The game the laws Territory. are unsuited Congress to needs can not of devote the of laws time which necessary will to the enactment diversified conditions as meet the many in a country so protected large encountered Came should be laws Alaska. enforcement of stringent familiar by the of laws made by country. people There with but game and the will conserve should be laws which will still allow The game, of its use but by which a Governor population recommends dependent game that upon the it. control the Territorial of Alaskan Legislabe passed present to the force of game par to ture. ticularly wardens At the when is unjust entirely the provisions population inadequate, is of hos the laws tile and regulations. Territorial Banks close of the fiscal banks year and At were the 16 Territorial same num there National/ banks, the the previous three at the close of established ber as banks were the year. Fairbanks New and Cordova during failure, a at and there was one been closbank year, in Fairbanks having by the Territorial ed in August, 1917. The Bank of Ruby. Banking Board. more than a year's affairs. existence, after slightly voluntarily liquidated its Labor Conditions indus It in is the safe Territory to say that is suffering Mines, every mills, from try a shortage- shops, of labor. and railroads produc are all fisheries, working shorthanded. been Peak rendered tion everywhere has instances men impossible. In good many wages with conhave given employment, up urged National to other rest environments tinuous by the is lessness. Nome a more serious strike Union At The Miners' pro in progress. for an eight-hour day as would struck Territorial law and the vided accept by no compromise found although law had been of the Fourth Judicial was district. by the Judge An attempted appeal General of by the Attorney validity denied United States. Until the there the law is finally settled trouof will the be a recrudence of labor bles. provided in the Act, under of De- inAs of the Council workings of structions the eight-hour proclamafense. were set side by to the law the Governor as applied year, the unless tion fisheries of for war the sooner period terminates. of one Bureau of Publicity Territorial Bureau of Publicity purpose A being conducted for the concernis disseminating literature interesting of the Territory and for furnishing ing investors by A cenprospective special information. and reliable labor bureau is maintained dis tral much toward a general comis tribution doing of labor. Results are mencing to be shown. Food Administration Food Administrator. with The at Juneau, reports many the headquarters results accomplished, been important important of which has paid most fixing of the price to be In this the salmon and other fish. Food for the duties of the among Administrator connection. for Alaska are country most important in the stimuthe number of matters, such as deA the production. creating salmon. a lating fish other than mand in for the preservation of the co-op- fish aiding Territory. securing the those of the. of dealers other than out eration foodstuffs in carrying been handling food program. etc., have Adminthe by the Alaska Food wili handled The co-operation and with istration. of Alaskans to comply Adminingness regulations of the Food istration, the have been most gratifying. Public Lands During the year 16 townships,