gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
76684559594eb791
Response Measures
Accommodated withdrawals, Clearinghouse loan, Public signal of financial health, Full suspension, Books examined
Clearinghouse involved: Yes
(loan, examination, or other measures)
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1933-01-21
Date receivership terminated
1941-09-30
Share of assets assessed as good
42.4%
Share of assets assessed as doubtful
45.1%
Share of assets assessed as worthless
12.5%
Description
Subsidiary (California Trust and Savings Bank) closed simultaneously; federal/state examiners took charge.
Events (5)
1.January 5, 1907Chartered
Source
historical_nic
2.January 21, 1933Receivership
Source
historical_nic
3.January 21, 1933Receivership
Newspaper Excerpt
Federal and state examiners took charge of the bank ... W. Douglass, receiver for the California National Bank which closed its doors several weeks ago, announced ... (later references to H. W. Douglass as receiver).
Source
newspapers
4.January 21, 1933Run
Cause
Rumor Or Misinformation
Cause Details
Insidious whispers/rumors and heavy withdrawals over several days described as a silent run that depleted reserves.
Measures
Directors sought state/federal intervention; other banks transported cash to reassure public.
Newspaper Excerpt
withdrawals during the past several days were virtually a silent run which brought the bank's reserves below the legal requirement.
Source
newspapers
5.January 21, 1933Suspension
Cause
Government Action
Cause Details
State and federal examiners ordered the bank closed after reserves fell below legal requirements due to heavy withdrawals.
Newspaper Excerpt
The California National Bank ... failed to open for business today. Federal and State examiners took charge of the bank and started checking its assets.
Source
newspapers
Newspaper Articles (23)
1.January 21, 1933The Modesto BeeModesto, CA
Article Text
SILENT RUN REVEALED
Action Due To Heavy Withdrawals; Reorganization Plans Under Way
By McClatchy Newspaper Wire SACRAMENTO, California National Bank, one of "The California Trust Savings Bank taken over by the superintendent banks this morning, following meeting of the board of directors which adopted bank. in San Francisco last "Heavy withdrawals covering period several days and culminating Friday what was virtusilent run, brought the bank's reserve below legal quirements, and the closing followed. superintendent of banks will give consideration plans for which have been proposed. Directors' The statement issued the bank's board directors "Owing to agricultural and over riod of the last three years, Bank Sacramento and the Trust Savings Bank have met cent cordingly, the directors tection all depositors, decided ask the national state authorities to take charge of the institutions hoped that plan of the of deposidate." Hilliard president the Clearing House sociation, issued statement which assurance the other banks in Sacramento cash on hand for all clearing house banks Sacramento are fully the responsibility closing of the California National Bank and the California Trust and Savings Bank are prepared ner that need not disturb conditions.
Sufficient Cash "Sufficient cash available take and one feel concern the ability the banks to handle situation. behooves all of to recogthe seriousness co-operate the extent that business be allowed continue its normal course. is one the tests of the stability and courpeople this commuWe believe they will occasion and In the of local bankers, the of the California tional first time mento's history that bank failed to open. Crowd Gathers At an bank fail open the regular hour o'clock proportions at large crowd gathered front bank at Seventh streets. Shortly bulletin, signed Rainey, posted on the door. have taken the the fornia Trust and Bank unthe Section act of the State of CaliScores persons were astoundthe greater fic officer the by the bank because the heavy traffic. second bulletin was posted notice Price, examiner in charge, formal resolution the board directors, the California National Bank placed in effect. Last Statement might easier to keep hu- The the time than Dr Zeigler Bank 31st, that death fore the of from lobar seldom officials of occurs before the fifth day often delayed for three weeks Total deposits amounted longer. slower course time loans Pneumocholin produced by California Bonds and dissolving pneu- liquid assets monia olate, derived from bile. (See Page Col.
2.January 21, 1933The Fresno BeeFresno, CA
Article Text
Mrs. Roosevelt Leaves Plane On Chicago Trip
RANCE STOCK DROPS fornia Western States Life Insur Company's stock dropped one third of price on the San Francisco Erchange to failure of D. the Califor National Bank of nia forced her plane Sacramento the exchange afternoon and The stock down to $20 her trip to by share from the price Chicago terday Although only 285 shais The plane landed at Cleveland sold the half hour after the news before reached here this was turn Roosevelt immediately over for the usually quiet stock. rushed to the Linndale Railroad Station State Bill Would kept waiting She pected in Chicago about Restrict Oil Drilling M She the SACRAMENTO Jan League of Women Voters there to Drilling for oil within 300 feel of night public lands of be terms Rolph Names Dr. Kress of bill introduced the legislature Assemblyman George To State Health Board Bliss Carpinteria Bliss said the of the bill preSACRAMENTO Jan 21 Dr George H. Kress of Los An- pools of oil belonging to the pubgeles appointed by Governor Roinh to be member of the FINANCIER GETS PROBATION state board of public health SAN DIEGO Jan. Earl succeeding George E Ebright Farnsworth vice president of of San Francisco, whose term pired free on probation Dr. Percy T. Magan of Los An after being day on les was be member charge in of the board of medical the traffic death last October vice Bert of marine The banker was or deceased dered to pay $750 trial costs
3.January 22, 1933The Los Angeles TimesLos Angeles, CA
Article Text
SILENT RUN' SHUTS BANK IN CAPITAL
Sacramento Institution, Subsidiary and Four Units Now Being Examined
SACRAMENTO, Jan 21. (P)-The California National Bank of Sacramento and its subsidiary, the California Trust and Savings Bank, said to be the oldest institution of its kind in California, failed to open for business today. Branches of the California National Bank in North Sacramento, Loomis, Ione and Arbuckle also failed to open. The California National Bank of Sacramento has no affiliation with banks of a similar name in this State. Federal and State examiners took charge of the bank and started checking its assets. Directors issued a statement crediting the closing to heavy withdrawals during the past several days. Airplanes and armored motor cars rushed $13,000,000 in cash from San Francisco to Sacramento to fortify the position of other banks subjected to runs when news of the Callfornia National closing became known. Approximately 9000 commercial and 36,000 savings accounts were tied up by the bank closing. The California statement of condition as of December 31, 1932, showed and those of the California Trust and Savings, $19,989,390.45 State Superintendent of Banks Rainey'ordered the California Trust and Savings Bank closed. He said withdrawals during the past several days "were virtually silent run which brought the bank's reserves below the legal requirement." State Treasurer Charles G. Johnson and Department of Finance officials said the State has $1,231,000 deposited in the closed bank, $1,100,000 of which are secured by Federal, State, county and city bonds valued at 10 per cent in excess of the
4.January 22, 1933The Ogden Standard-ExaminerOgden, UT
Article Text
MRS. JUDD HAS NEW EVIDENCE
(Continued from Page One.)
asked Superior Judge J. C. Niles, the committing magistrate.
"I know whether it is true or not."
"Then answer," admonished the court.
"No," she burst out. "I didn't kill Mrs. Samuelson."
SACRAMENTO, Calif., Jan. 21—(AP)—The California National bank and its subsidiary, the California Trust and Savings bank, failed to open its doors for business today. Heavy withdrawals during the past several days was advanced by officials of the institution as the reason for its closing.
5.January 22, 1933The Charlotte NewsCharlotte, NC
Article Text
Close Sacramento Banks With $22,000,000 Assets
San Francisco, Jan Heavy withdrawals that neared the proportions of serious run caused state and federal bank ex aminers order the closing of two banks with total combined assets of $22,000,000 today. The California National and the California Trust and Savings an affiliate were the institutions affected by the orders
6.January 22, 1933The Daily OlympianOlympia, WA
Article Text
FAIL TO OPEN
SACRAMENTO, Jan. 21—(AP)—The California National bank of Sacramento and its subsidiary the California Trust and Savings bank, claimed to be the oldest institution of its kind in California failed to open for business today.
Branches of the California National bank in North Sacramento, Loomis, Ione, and Arbuckle also failed to open.
Federal and state examiners took charge of the bank and started checking its assets. Directors issued a statement crediting the closing to heavy withdrawals recently.
7.January 23, 1933Appeal-DemocratMarysville, CA
Article Text
SAN Jan. 23, of the failure of the California National bank Sacramento were felt in other northern California towns today when five small banks were closed on orders of their boards of tors.
The Bank of Willows, the Colusa County Bank, Bank of Courtland, Bank of Folsom and the Fair Oaks bank failed to their open doors for business today, according to word received by the state bank examiner's office here. Heavy withdrawals which followed news the California National's failure the direct cause of closing of the banks. The action was taken after the boards had conferred state banking officials who agreed would best close banks before runs might develop. State banking officials did not look upon the situation with alarm. They pointed out that after the first flare of hysteria in Sacramento, when the California depositors in other banks quieted down and deposits exceeded withdrawals.
8.January 24, 1933Pasadena Star-NewsPasadena, CA
Article Text
TO FEAR
State Legislators, Press Seek New Confidence
RUN ON BANK SAID UNJUSTIFIED
Newspapers Rally People to Calmness, Courage
(Special The Star-News) curtain fell Saturday night upon the most dramatic day in the history of Sacramento. The city had experilike lightning first bank failure in its history. The California National oldest banking institution west the complete confidence not only of Sacramento, but of all Northern California. In banking circles considered the most substantial institutions in the West. This bank need not have failedshould not have failed. the insidious whisper which undermined confidence depositors and for several days there was silent run the bank. before compelled to close its doors. On the directorate of this bank of the most substantial business men the Sacramento Valley. Sacramento was full of panic for time Saturday. All the banks the city were subjected to runs. But they bravely withstood the strain and the principal banks held open far into the night, to convince depositors they could get their money they desired it, but that the banks sound.
Papers Urge Calmness The Sacramento newspapers are ralfying the people calmness The staunch old Sacracourage mento Bee says editorially: "Sacramento is bigger than any one And because bank has is that the foundations the city are crumbling has had her setbacks in the But she has past. always been able work herself out of them and go forward to bigger and better things, She will The pressing duty of the again. moment for citizenry to keep and about daily duties with the present underlying stability the community. The Sacramento Union says editorially: "There no reason to fear. We will weather the storm. storm of fear. The trouble the banks that closed temporarily was fear. Some one started rumor that was not justified and silent brought the bank's reserve below the legal requirements and the closing need not happened. The future in our hands. We must banish Fear End Aim
Around the state Capitol, among legislators and state officials, this slogan, "We must banish fear," heard most emphatically. Every legislator who has expressed himsends forth an urgent appeal his constituents stand by and good courage. This fear-failure great bank soon will be remedied through the courage and initiative of the people of this great There was romance about the old California National Bank. which founded in 1848. The original bank handled much of gold that mined by the The bank its operations were interwoven the most glamorous period in the history of California. The CalNational was strengthened consolidation the D. Mills banking interests in 1925. The California National Bank had some 36,000 depositors in savings and 9000 depositors. The bank's assets, January totaled
9.January 24, 1933The OlympianOlympia, WA
Article Text
E. B. Benn, former state senator and at present receiver for a Kelso bank, has been named receiver of the Olympia National bank here, succeeding H. W. Douglass, according to a statement issued by the federal comptroller of currency Monday. Benn will assume charge January 30.
Douglass left Olympia Saturday night for Sacramento, Cal., and there he will assume charge of the California National bank which closed its doors Friday.
F. C. Wing, assistant to Douglass here, is in charge of the bank pending the arrival of Benn.
10.January 26, 1933Tribune-ProgressNorth Sacramento, CA
Article Text
CAPITAL CITY BRIEFS
Depositors of Bank Form Organization Depositors of the California National Bank have formed protective association to delve into reasons for the failure of the bank and Superior Judge Martin I, Welsh has been named temporary chairman. A thorough investigation is to be made.
K. of C. to Honor Veteran Members Four veterans of the Knights of Columbus, Sacramento Council No. 953, will be honored tonight in an "honorary members cere. monial." This is conferred upon members who have reached the age of 65 years and having been a member for twenty-five years. Recipients will be Supervisor Donald McDougal, John McGrath, Captain John Stephenson and John McMahon
Callahan Memorial Is Proposed The South Side Improvement Club is sponsoring a movement to erect a memorial to the late Robert E. Callahan, Sacramento county supervisor. John L. Boitano is in charge of the collection of funds. Already a substantial amount has been pledged.
New U. S. Attorney Sworn In
Emmett J. Peterson, recently named assistant United States district attorney, received the oath of office this week.
11.January 28, 1933The News TribuneTacoma, WA
Article Text
MADE RECEIVER FOR TWO BANKS
McLean, receiver the Washington National bank has appointed the First National of Auburn the Enumclaw bank, according Tacoma Saturday. succeeds W. Douglass, federal bank receiver, who has transferred to Sacramento liquidate the California National bank. McLean formerly was cashier of the Auburn National He assumed of the affairs the Auburn and Enumclaw banks Saturday. He will continue be n charge liquidation the Washington National bank here.
12.February 8, 1933The RecordStockton, CA
Article Text
Bank Receiver in Grain Foreclosure
As an aftermath of the closing the California National Bank Sacramento January suit intervention asking that quantity of grain awarded to the Inter vener foreclose mortgage filed today in the Superior Court by Douglass receiver for the bank Superior Judge M. Young granted Douglass to file the intervention action Plaintiffs original complaint are the Golden Eagle Milling Company Company and fendants are Betty owner land county which the grain was grown, and others
13.February 25, 1933Modesto News-HeraldModesto, CA
Article Text
Early Withdrawals From Capital City Bank Investigated SACRAMENTO, Feb. Douglass, for the California National Bank which closed its doors weeks ago, yesterday he was investigating the withdrawal nearly $3,500,000 in deposits during three weeks prior to the bank's suspensuch a large sum of money Douglass said, "some of course, must, have been taken out large sums." He said his investigation so far shows deposits were withdrawn in both "front door and back door" run and that, he discovers certain large depositors had "inside" information the bank was close and their funds, forward the information the comptroller currency in Washington, D. C.
14.February 25, 1933The San Francisco ExaminerSan Francisco, CA
Article Text
Sacramento Bank Dealings Probed
SACRAMENTO, Feb. W. Douglass, receiver for the California National Bank which closed its doors several weeks ago, announced today he was investigating the withdrawal of nearly $3,500,000 in deposits during three weeks prior to the bank's suspension. He said his Investigation so far shows deposits were withdrawn in both "front door and back door" run and that if he discovers certain large depositors had "inside" information the bank was to close and withdraw their funds, he will forward the information to the comptroller of the currency Washington,
15.May 16, 1933The CalifornianSalinas, CA
Article Text
Closed Bank Raps Rainey
Sacramento Banker Says State Acted Hastily In Dooming His Firm
SACRAMENTO, May 16 (U.P.) Charges that the state banking department acted "hastily" and precipitated the closing of the California Trust and Savings Bank and the California National Bank were under consideration today by the Sacramento county grand jury following testimony of Fred W. Kiesel, bank president. In appearing before the grand jury to deny he withdrew any of his own funds from the bank or that there were any irregularities, Kiesel said the financial institutions could have "weathered the storm" had Edward Rainey, state superintendent of banks, allowed the Trust and Savings Bank to remain open. Looking back to the closing of one of Northern California's largest financial institutions, Kiesel declared he had no knowledge that the bank's funds had fallen below the "margin of safety" or where Rainey learned of withdrawals which prompted closing of the bank's doors. Kiesel was reported as having said he felt no concern over these "seasonal" withdrawals. The bank president also criticised A. Q. Robison, deputy in Rainey's office, who had been acting as bank receiver. Kiesel declared Robison was only 29 years old and unfamiliar with valley agricultural affairs so that he was not in a position to speak authoritatively in saying that reorganization of the banks would be "impossible."
16.August 23, 1933The San Francisco ExaminerSan Francisco, CA
Article Text
Stockholders Sued by Closed Bank Receiver Suit to enforce stockholders' liability in the closed California National Bank of Sacramento was filed by H. W. Douglas, receiver, in Federal Court today against Joseph L. Steffens of Monterey County and William P. Burnham of San Francisco. The receiver seeks to recover $15,000 from Steffens and $10,800 from Burnham, the of bank stock owned by them, plus accrued interest, since June 24 last.
17.September 1, 1933The Sacramento BeeSacramento, CA
Article Text
Resolution Allows City To Get Bank Dividend
The city is eligible to receive its 20 per cent dividend check from the defunct California National Bank A special resolution of the council was required, however, before the money could be received. When the bank closed in January, Librarian W. F. Purnell had an account of $726.25, representing the receipts from the duplicate pay collection. Purnell later died and Miss Grace Taylor succeeded him. But the bank's receiver had to be given formal notice that Miss Taylor had been appointed before making payment.
18.September 29, 1933Oakland TribuneOakland, CA
Article Text
Cal. Nat'l Bank Receiver Files Suit SAN FRANCISCO. Sept. 29. Douglass, receiver for the California National Bank of Sacramento, today filed suit Federal Court against Carlton Daiss, vicepresident the Wells Fargo Bank Union Trust Company allegedly due an assessment of $100 share the 465 shares of stock Daiss held in the The California National closed its doors last January 21 and on April comptroller currency levied the The suit was filed Gerald Johnson, Sacramento attorney. for Douglass
19.September 29, 1933Free LanceHollister, CA
Article Text
Bank Receiver Shows No Need Of Cash by Some
There lot of people in Sacramoney Nearly a month ago H. W Douglass receiver 01 the closed CaliforNational bank announced he the initial dividend from the institution total For 8.000 checks senting 20 per cent of the deposits the bank customer To date according to Douglass
20.September 30, 1933The Sacramento UnionSacramento, CA
Article Text
Closed Bank Receiver Sues for Assessment
H. W. Douglass, receiver for the defunct California National bank. yesterday filed suit in federal court in San Francisco against Carlton J. Daiss, vice president of the Wells Fargo bank and Union Trust company, for $46,500, alleedly due as an of $100 a share on the 465 shares of stock Daiss held in the bank here. The suit was filed for Douglass by Gerald Johnson, local attorney The assessment of $100 per share was levied against stockholders by the comptroller of the currency April 17.
21.November 22, 1933Richmond Record-HeraldRichmond, CA
Article Text
Pasadena Is Two Bankers Attacked By Indicted By The Flames Federal Jury lionaires and movie stars left their estates in the foothills tonight when a brush fire sped out of control to. ward-the district. The edge of one estate was reported in flames and fire wardens ordered all residents to evacuate. The home of Harvey Bissell millionaire carpet sweeper maker was enveloped in flames and the nearby residence of Irving Pichel and Victor McLaglen, film actors, were also threatened. More than 50 homes were believed periled. The fire was the worst since 1927. Fire wardens said the flames were completely out of control and gaining rapid headway. A protracted dry period. coupled with low humidity was blamed for the flames which expanded 10 times within an hour. charges of conspiracy and submitting false reports to the Controller of the Currency. Fred W. Kisel, president of the California National Bank of Sacramento and A. B. Carvice-president and cashier. were indicted by the Federal Grand Judy. here today. When the bank closed January 21 it had 9.000 depositors. They were paid dividend of 25 per cent by H. W. Douglass, the receiver. who was the principal witness before the jury. In three weeks prior to the bank's closing the deposits shrunk $2,500,000. Douglass report. ed. and when it closed it had only $122,900.70 in cash on hand. The indictment contained four counts. Three counts list specific occasions-Deember 31. 1931. June 30. 1932. and December 31, 1932 which the bank assertedly filed reports with the Controller representing bonds on hand at more than million dollars in excess of their value. The fourth count charges conspiracy in submitting the re-
22.November 22, 1933Nevada State JournalReno, NV
Article Text
California Bank Grand Jury
SACRAMENTO, Calif., Nov. (U.P.)-The federal grand jury here today indicted Fred W. Kiesel, president, and A. B. Carter, vice president and cashier, of the closed California National bank, on charges of making false reports to the United States comptroller of currency on the bank's condition They were also charged with conspiracy to make such reports. Warrants for their arrest were issued and bond was placed at $10,000 each. Attorneys for the two were ready to post the bonds to keep the men out of custody.
23.July 6, 1934Woodland Daily DemocratWoodland, CA
Article Text
Slash in Bedell's Debts Approved
Federal Judge Harold Louderback has approved the petition of II. W. Douglass of Sacramento, California National bank receiver, for an adjust-
Edwin J. Bedell, former Woodland boy, and II. S. McDuffee. Douglass asked that Bedell, who owes the bank $54,520, be allowed to settle for 50 cents on the dollar by the authorization of the sale of certain securities and that MeDuffee be permitted to settle debt of $27,922 with a $15,000 cash payment plus securities and bonds to be sold on the
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.