gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f53f24f955d3f900
Response Measures
Capital injected, Full suspension, Books examined
Description
Suspension ordered by Comptroller after withdrawals and impaired capital; stockholders later assessed to reopen.
Events (5)
1.October 29, 1904Chartered
Source
historical_nic
2.August 21, 1905Run
Cause
Bank Specific Adverse Info
Cause Details
Examiner found capital badly impaired by losses, prompting steady withdrawals over several days.
Measures
None besides later closure by comptroller; withdrawals prompted supervisory action.
Newspaper Excerpt
Steady withdrawals have been made for several days
Source
newspapers
3.August 21, 1905Suspension
Cause
Government Action
Cause Details
Acting comptroller ordered closure after examination showed capital badly impaired and insufficient funds to meet demands; receiver appointed.
Newspaper Excerpt
The doors of the Western National bank of Louisville, Ky., were closed this morning by order of the comptroller of the currency. Thomas M. Thornton has been appointed receiver.
Source
newspapers
4.October 2, 1905Reopening
Newspaper Excerpt
The Western National bank of this city, which has been closed for some time, resumed business today. Comptroller ... consented to have the stockholders ... taxed 83 per cent, to the amount of $250,000, which was paid to the receiver so that the bank could resume business.
Only About a Year Old. The statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garrett showed its capital badly impaired by losses. Steady withdrawals have been made for several days, and the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike and prevent those having knowledge of condition from securing preference over those without this knowledge." Thomas M. Thornton has been appointed receiver. The Western National bank was chartered in 1904 to succeed the Western Bank of Louisville. W. B. Smith was president and J. T. Jefferson cashier.
aminer Garrison showed that its capital was badly impaired by loses. Steady withdrawals have been made for several days, and the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike, and prevent the ones having knowledge of conditions securing preference over those without this knowledge." Thomas M. Thornton has been appointed receiver. The Western National Bank was chartered in 1394 to succeed the Western Bank of Louisville. W. B. Smith was president, and T. J. Jefferson cashier.
3.August 21, 1905The Providence NewsProvidence, RI
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Article Text
WESTERN NATIONAL BANK CLOSED BY COMPTROLLER Washington, Aug. 21.-The doors of the Western National bank of Louisville, Ky., were closed this morning by order of the comptroller of the currency. A statement issued by the acting comptroller of the currency says: "Aan examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days and as there was not suft:cient funds on hands or immediately available to meet further demands likely to be made by depositors and other creditors, the acting comptroller directed the bank to be closed in order to protect the interests of all creditors alike, and prevent those having knowledge of the conditions securing preference over those without this knowledge. "Thomas A. Thornton has been appointed receiver. "The Western National bank is comparatively a new association, having been chartered Oct., 1904, as the Western Bank of Louisville. W. B. Smith was president and L. L. Jefferson cashier of the bank."
4.August 21, 1905The Topeka State JournalTopeka, KS
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Article Text
BANK IS CLOSED. Government Steps in to Protect the Depositors. Washington, Aug. 21.-The doors of the Western National bank of Louisville, Ky., were closed this morning by order of the comptroller of the currency. A statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days. As there was not sufficient funds on hand or immediately available to meet further demands likely to be made by the depositors and other creditors, the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike and prevent those having knowledge of conditions from securing preference over those without this knowledge." Thomas M. Thornton has been appointed receiver. The Western National bank is comparatively a new association, having been chartered in 1904 as the Western Bank of Louisville. W. B. Smith was president, and T. J. Jefferson cashier.
5.August 22, 1905The Chickasha Daily ExpressChickasha, OK
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Article Text
LOUISVILLE BANK FAILS Capital Badly Impaired dy Losses. Receiver Appointed Washington, Aug, 21.-The doors of the Western National bank of Louisv lle' Ky., were closed this morning by order of the comptroller of the currency. A statment issued by the acting comptroller of the currency says: "An examination of the bank by Examiner Garrett showed that its captial was badly impaired by losses. Steady withdrawals have been made for several days and as there was not sufficient funds on hand for immediate available to meet furthur demands likely to be made by the depositors and other creditors, the acting comptroller directed the bank to be closed in order to protect the interests of all depositors alike and to prevent those having knowledge of conditions securing preferance over those without this knowledge."
6.August 22, 1905Arizona RepublicanPhoenix, AZ
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Article Text
Washington. Aug. 21.-The doors of the Western National Bank of Louisville, Ky., were closed this morning by the order of the controller of currency and a receiver was appointed. The bank is a comparatively new one. It was chartered in 1904.
LOUISVILLE BANK FAILS. Western National Closed by Order of Comptroller of Currency. Washington ,August 22.-The doors of the Western National Bank, Louisville, Ky., were closed this morning by order of the comptroller of the currency. A statement issued by the acting comptroller of the currency says: "An examination of the bank by Bank Examiner Garrett showed that its capital was badly impaired by losses. Steady withdrawals have been made for several days and there was not sufficient funds on hand or available to meet further runs likely to be made by depositors and other creditors. the acting comptroller directed the bank to be closed in order to protect the interests of all creditors alike and prevent those having knowledge of conditions securing preference over those without the knowledge. "Thomas W. Thornton has been appointed receiver." The Western National bank is comparatively a new association, having been chartered Oct. 29, 1904. to succeed the Western Bank of Louisiville. W. B. Smith was president, and T. J Jefferson. cashier. The deposits in the bank amounted to $1,070,810.
8.August 23, 1905Grant County HeraldLancaster, WI
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Article Text
Louisville Bank Closed. Louisville, Aug. 22.-The Western National bank of this city has been closed by the federal authorities. The suspension had been expected, for May 29 the bank showed a reserve of only 14 per cent and its business has fallen off steadily since then-in fact, the bank's stock has fallen from 107 to 35 within the last few days.
9.August 24, 1905The MonticellonianMonticello, AR
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Article Text
Bank Closed. Louisville, August 22.-The Western National bank of this city has been ordered closed by the federal authorities. me bank's suspension has been anticipated. On May 29 the bank showed a reserve of only 14 per cent and its business has fallen off steadily since then. In fact. the bank's stock has within the last few days fallen from 107 to 35. The president of the bank, in a statement, said the bank's failure is due simply to over-loans and shrink age in deposits.
10.August 26, 1905Chicago EagleChicago, IL
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Article Text
Receiver for Louisville Bank. The Western National Bank of Louisville has been closed by order of the Comptroller of the Currency at Washington. The failure was not a surprise, as on May 29 the bank's statement showed a reserve fund of only 14 per cent, and the business of the institution had fallen off steadily since then.
11.September 8, 1905The Paducah SunPaducah, KY
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Article Text
AN ASSESSMENT Must Be Paid Before the Western Bank Can Reopen. Louisville, Ky., Sept. 8.-The directors of the Western National bank have been notified by the receiver, Thomas W. Thornton, that the stockholders of the bank will be required to pay an assessment to meet the demands of the creditors of the bank. What the amount of the assessment will be has not as yet been
12.September 18, 1905Evening StarWashington, DC
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Article Text
WILL REQUIRE ASSESSMENT. Proposed Resumption of Business by a Louisville Bank. Mr. T. L. Jefferson, lately president of the Western National Bank of Louisville, Ky., with Mr. John Bryce Baskin, his attorney, and Mr. Thomas M. Thornton, receiver of the bank, today presented to the controller of the currency their plan for the bank's rehabilitation. After careful investigation the controller found that an assessment of 83 1-3, per cent on the shareholders would completely restore the capital of the bank, and stated that when the sum of $250 is paid to the receiver for that purpose the bank will be permitted to resume business. It is confidently expected that the money will be paid and the bank reopened in its new banking house, corner of Market and 3d streets, about the 1st of October.
13.September 19, 1905The Paducah SunPaducah, KY
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Article Text
WESTERN NATIONAL Will Probably Open Again Early in October. Washington, Sept. 19.-At the controller's office It was announced that the Western National bank, of Louisville, probably will resume business early in October, all embarrassing obstacles to resumption having been cleared away. The following formal statement was given out for publication: "Mr. T. L. Jefferson, late president of the Western National bank, of Louisville, with Mr. John B. Baskin, his attorney, and Mr. Thomas M. Thornton, receiver of the Western National bank, of Louisville, today presented to the controller of the currency their plan for the rehabilitation of that bank. "After careful Investigation, the controller found that an assessment of eighty-three and one-third per cent. on ithe share-holders would completely restore the capital of the bank and stated that when the sum of $250,000 is paid to the receiver for a purpose the bank will be permitted to resume business. "It is confidently expected that the money will be paid and the bank reopened in its new banking house, corner of Market and Third streets, about the first of October."
14.October 2, 1905The Guthrie Daily LeaderGuthrie, OK
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Article Text
WESTERN NATIONAL BANK RESUMES. (By Associated Press.) Louisville, Ky, Oct. 2-The West. erg Nat onal bank of this city, which has been closed for some time resumed business today Comptroller of the currency department at Washington consented to have the stockholders of the institution taxed 83 per cent, to the amount of $250,000, which was paid to the receiver so that the bank could resume business.
15.October 4, 1905The Paducah SunPaducah, KY
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Article Text
Western Bank Reopens Oct. 16. Louisville, Ky., Oct. 4.-October 16 has been set as the time for the opening of the Western National bank in the new quarters at Third and Market streets. The $250,000 necessary to resumption has been paid over, and Receiver Thornton is now arranging the affairs of the bank so that he can turn them over to the stockholders on or before that date. When the bank begins business t will have about $500,000 in cash in its coffers.
16.October 20, 1905Wood County ReporterWisconsin Rapids, WI
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Article Text
The Indemnity Savings and Loan company is the concern against which Attorney General Ellis began quo warranto proceedings in the circuit court on Saturday last with a view of preventing the company from continuing business in this state. The attorney general charged that the company had violated the state banking laws. H. R. Sanborn, who is named as.assignee, is the president of the company. Officers of the institution declare that it is absolutely solvent and that depositors can readily be paid in full. They also state that the attorney general's action was without due cause. The bank had, when it's last statement was issued, in June of this year, assets and liabilities amounting to $1,392,681. The deposits were then $688,661. The bank will resist the attempt to take away its charter and today filed a motion in circuit court to quash the summons of Attorney General Ellis. LOUISVILLE, Ky., Oct. 16.-The Western National bank, which was closed several weeks ago, on orders from the comptroller's office, reopened for business today under favorable auspices. NEW ORLEANS, La., Oct. 16.-The run on the Germania Savings bank has entirely ceased.
17.October 24, 1905Hopkinsville KentuckianHopkinsville, KY
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Article Text
W.B. SMITH Indicted for Stealing From the Western National Bank. Louisville, Ky., Oct. 19.-W. B. Smith, former president of the Western National bank, the youngest financier of Kentucky, was indicted today by the grand jury on ten counts in connection with the recent suspension of the Western National bank. Smith's present whereabouts are unknown. His alleged peculations aggregate $199,013.
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.
