United States Banking Company (Gervais, OR)

Episode Information

Episode UID
7417445191117
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
741744519 hash
Start Date
January 21, 1893
Location
Gervais, Oregon (45.108, -122.898)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ab066463a7f12d28

Response Measures

None

Description

Articles report runs at multiple branches, suspension, attachments and an expected assignment; cashier later arrested for defalcation.

Events (4)
1. January 21, 1893 Run
Cause
Rumor Or Misinformation
Cause Details
A street rumor of the firm's unsafe condition triggered merchants to withdraw funds on Saturday afternoon.
Measures
No special measures; cashier refused to open when crowd gathered.
Newspaper Excerpt
A rumor of the unsafe condition of the firm was started on the streets Saturday noon and the run followed.
Source
newspapers
2. January 24, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed heavy withdrawals and later reports/suspicions of bad management and possible defalcation by officers.
Newspaper Excerpt
The United States Banking company suspended payment here yesterday.
Source
newspapers
3. January 25, 1893 Other
Newspaper Excerpt
All the company's property in Gervais was attached by Sheriff Knight for claims aggregating $2,500; secretary will make an assignment if matters are not settled in a few days.
Source
newspapers
4. February 20, 1893 Other
Newspaper Excerpt
L. H. Reeves, the defaulting cashier of the United States Banking Company, of Gervais, was arrested here tonight by city detectives.
Source
newspapers

Newspaper Articles (12)
1. January 25, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, January 25, 1893

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Article Text

WILL HE RETURN? The President Absent, the Bank Suspends. GERVAIS, Ore., Jan. 24.-The United States Banking company suspended payment here yesterday. There was a run made on the bank Saturday afternoon and all the money drawn out. The cashier refused to open for business yesterday. The company have three banks in the state, one at this place. another at Junction City. and a third at Sheridan, all small concerus. The Junction City branch had R run on it to-day and closed its doors. So far no run has been made on the Sheridan branch. President O. Nealdridge is now in Chicago. but is expected to return soon. There was about $12,000 on deposit here unpaid. Farmers are the principal losers. The entire capital of the three banks is less than $50,000. It is believed depositors will be paid in full when the president returns.

2. January 25, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 25, 1893

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Article Text

time give to the country a superbly equipped supreme court judge. BANKS' DOORS CLOSED. A Triple-Headed Oregon Concern Goes to the Wall. GERVAISE, Or., Jan. 24.-The $ United States Banking company suspended payment here yesterday. There was a run made on the bank Saturday afternoon and all the money was drawn out. The cashier refused to open for business yesterday. The company has three banks in the state-one at this place, one at Junction City and another at Sheridan, all small concerns. There was a run on the Junction City branch today. Its doors were closed. So far no run has been made on the Sheridan branch. President Baldridge is now in Chicago. but is expected to return soon. There was about $12,000 on deposit here unpaid. The farmer$ are the principal losers. The entire capital of the three banks is less than $50.000. It is believed the depositors will be paid in full when the president returns. LINCOLN, Neb. ,Jan. 24.-The state banking board today (closed the Dickinson State bank at Wahoo. W. L. Dickinson, the president and owner, is missing, but no especial effort will be made to learn his whereabouts. The bank was a small concern; deposits were small and it is not thought that any one will lose much.

3. January 25, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, January 25, 1893

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Article Text

Banks Suspend. GERVAISE, Or., Jan. 24.-The United States banking company suspended payment here yesterday. There was a run made on the bank Saturday after noon and all the money drawn out and the cashier refused to open for business yesterday. The company have three banks in the state, one at this place, another at Junction City and a third at Sheridan. All are small concerns. The Junction City branch had a run on it today and closed its doors, but 80 far no run has been made on the Sheridan branch. President C. Nealridge is now in Chicago but 18 expected to return soon. There was about $12,000 ou deposit here unpaid and farmers are the principal losers. The entire capital of the banks was less than $50,000. It IS believed the depositors will be paid in full when the president returns.

4. January 25, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 25, 1893

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Article Text

time give to the country a superbly equipped supreme court judge. BANKS' DOORS CLOSED. A Triple-Headed Oregon Concern Goes to the Wall. GERVAISE, Or., Jan. 24.-The United States Banking company suspended payment here yesterday. There was a run made on the bank Saturday afternoon and all the money was drawn out. The cashier refused to open for business yesterday. The company has three banks in the state-one at this place, one at Junction City and another at Sheridan, all small concerns. There was a run on the Junction City branch today. Its doors were closed. So far no run has been made on the Sheridan branch. President Baldridge is now in Chicago. but is expected to return soon. There was about $12,000 on deposit here unpaid. The farmer$ are the principal losers. The entire capital of the three banks is less than $50.000. It is believed the depositors will be paid in full when the president returns. LINCOLN, Neb. ,Jan. 24.-The state banking board today (closed the Dickinson State bank at Wahoo. W. L. Dickinson, the president and owner, is missing, but no especial effort will be made to learn his whereabouts. The bank was a small concern; deposits were small and it is not thought that any one will lose much.

5. January 25, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, January 25, 1893

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Article Text

RESULT OF A RUN. Failure of Two Banks in Oregon. ANOTHER ONE IN DANGER. Branches of the United States Banking Company at Gervais and Junction City in Trouble. Special to THE MORNING CALL, GERVAIS, Or., Jan. 21. 1 The United States Banking Company suspended payment here yesterday morning. There was a run on it Saturday afternoon and all the coin it had here was drawn out. At the time of opening the bank on Monday morning the cashier refused to resume business, owing to the fact that a large crowd had gathered about the building. The United States Banking Company has three banksone at Gervais (the main office), one at Junction City, Or., and one at Sheridan, Or. The Junction City branch had a run to-day and closed its doors as soon as all the funds were exhausted. So far no run has been made on the Sheridan branch. The president of the company is at present in Chicago and is expected to return immediately. Until his return there is no way of getting at the condition of affairs. There is between $10,000 and $12,000 on deposit in the Gervais branch unpaid, in amounts ranging from $1500 down to small sums. Most of the Gervais merchants drew out Saturdav, causing the run, and the farmers are yet unpaid. A rumor of the unsafe condition of the firm was started on the streets Saturday noon and the run followed. The depositors were not boisterous, and the majority firmly believe that upon the president's return things will be arranged satisfactorily to all creditors. This afternoon all the company's property in Gervais was attached by Sheriff Knight for claims aggregating $2500. Oo account of the absence of the president the stockholders are unable to make any statements. but a meeting will be called here immediately on his return. All three banks are small concerns.

6. January 25, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 25, 1893

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Article Text

FAILURES IN OREGON. Astoria Merchants and Three Country Banks in Distress. SAWMILL MAN HORRIBLY CUT. Falsely Accused Express Agents Push. ing the Case Against Sullivan-Religion in British Columbia Schools. ASTORIA, Or., Jan. 24.-A receiver will be appointed tomorrow to take charge of the affairs of Parker & Hanson, general merchandise dealers, who failed yesterday. It is impossible to obtain a statement of the affairs of the firm, but it is thought the liabilities will exceed $40,000. Murphy, Grant & Co., of San Francisco, are the heaviest creditors. The firm have been doing a heavy credit business, and many of the accounts are bad. GERVAIS, Or., Jan. 24.-The United States Banking Company suspended payment here yesterday morning. There was a run made on them Saturday afternoon. and all the coin they had here was drawn out. At the time of the opening of the bank on Monday morning the cashier refused to resunre business, owing to the fact that s large crowd had gathered about the building. The United States Banking Company has three banks, one at Gervais, the main office, one at Junction City. Or., and one at Sheridan, Or. The Junction City branch had a run today and also closed the doors as soon as the funds were exhausted. So far no run has been made on the Sheridan branch. The president of the company, C. Baldridge, is at present in Chicago, and is expected to return immediately. Until his return there is no way of getting at the condition of affairs. There is between $10,000 and $12,000 on deposit in the Gervais branch unpaid, in amounts ranging from $1,500 down to small amounts. Most of the Gervais merchants drew out Saturday, causing a run, and the farmers are yet unpaid. A rumor of the unsafe condition of the firm was started on the streets Saturday noon, and a run was made. The depositors are not boisterous, and the majority believe that upon the president's return things will be made satisfactory to ali the creditors. This alternoon all their property in Gervais was attached by Sheriff Knight on claims aggregating $2,500. On account of the absence of the president the stockholders are unable to make any statements, but a meeting will be called here immediately on his return. All three banks are small concerns.

7. January 25, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 25, 1893

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Article Text

TWO BANKS SUSPEND. The United States Banking Company Closes Its Doors in Oregon Towns. GERVAISE, Or., Jan. 24.-The United States Banking company suspended payment here yesterday. There was a run made on the bank Saturday afternoon and all the money drawn out and the cashier refused to open for business yesterday. The company have three banks in the state, one at this place, another at Junction City and a third at Sheridan. All are small concerns. The Junction City branch had a run on it today and closed its doors, but so far no run has been made on the Sheridan branch. President C. Nealdridge is now in Chicago but is expected to return soon. There was about $12,000 on deposit here unpaid and farmers are the principal losers. The entire capital of the banks was less than $50,000. It is believed the depositors will be paid in full when the president returns.

8. January 26, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, January 26, 1893

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Article Text

CLOSED ITS DOORS. Another Branch of the United States Banking Company in Trouble. SHERIDAN, Or., Jan. 25.-On receipt of the news to-day that the United States Banking Company's bank at Gervais had suspended the branch here closed its doors and refused to pay any further drafts. There is from $3000 to $5000 in the bank here and enough securities to meet the amount of the liabilities, which are estimoted at $20,000. L. H. Reeves, secretary of the corporation, is here and will make an assignment if matters are not settled in a few days.

9. January 26, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 26, 1893

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Article Text

The Oregon Bank Failure. SHEBIDAN, Or., Jan. 25.-Upon receipt of news that the United States Banking Company, of Gervais, had suspended, the branch here closed its doors and refused to pay any further draits. There is from $3,000 to $5,000 in the bank here, and enough securities to meet the amount of liabilities, which are estimated at $20,000. L. H. Reeves, secretary of the corporation, is here, and will make an assignment of matters not settled in a few days. SALEM, Or., Jan. 25.-Five more attachments were served today upon the United States Bank. ing Company's building and property at Gervais. The aggregate of these five claims is $b,000, and more are in process of law.

10. January 27, 1893 Evening Star Washington, DC
Article from Evening Star, January 27, 1893

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Article Text

The United States Banking Company at Gervais, Ore., with branches at Junction City and Sheridan, in the same state, has suspended. Farmers are the principal losers.

11. February 2, 1893 Iuka Reporter Iuka, MS
Article from Iuka Reporter, February 2, 1893

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Article Text

A Bank Suspends. The United States banking company suspended payment at Gervaise, Ore, Tuesday. There was a run on the bank Saturday afternoon and all the money drawn out. The cashier refused to open for business Monday. The company has three banks in the state-one at Gervaise, one at Junction City and another at Sheridan-All small concerns. There was a run on the Junction City branch Tuesday. Its doors were closed. So far no run has been made on the Sheridian branch. President Baldride is in Chicago, but is expected to return soon

12. February 21, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, February 21, 1893

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Article Text

Defanlter Reeves, of Gervais, Arrested. PORTLAND, Feb. 20.-[Special.]-L H. Reeves, the defaulting cashier of the United States Banking Company, of Gervais, was arrested here tonight by city detectives. The banking company, which had branches at Junction City and Sheridan, Or., was a small concern and was closed last month by a run of the depositors occasioned by rumors about its bad management. -Some of the officers of the bank were suspected of crooked work and a look out had been kept for Reeves. The amount of his defalcation is not known.