William Collins & Sons (Ventura, CA)

Episode Information

Episode UID
8927286391295
Episode Type
Suspension → Reopening
Bank Type
private
Bank ID
892728639 hash
Start Date
November 11, 1907
Location
Ventura, California (34.273, -119.257)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6293c6ea38d4067d

Response Measures

None

Description

Articles describe a temporary suspension pending action by bank commissioners; no receiver or permanent closure mentioned.

Events (1)
1. November 11, 1907 Suspension
Cause
Correspondent
Cause Details
Lack of ready money due to farmers' inability to sell crops and inability to obtain cash/aid from correspondent banks in San Francisco; general financial stringency.
Newspaper Excerpt
The bank of William Collins & Sons of this city closed its doors this morning. ... The immediate causes of the suspension are the fact that ready money was not obtainable; the financial stringency, the inability of the farmers to sell their crops and the inability of the bank to secure aid from its correspondents in San Francisco and other cities.
Source
newspapers

Newspaper Articles (3)
1. November 12, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 12, 1907

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Article Text

COLLINS' BANK OF VENTURA COMPELLED TO CLOSE DOORS By Associated Press. VENTURA, Nov. 11.-The bank of William Collins & Sons of this city closed its doors this morning. The statement is given out that the bank is taking advantage of the holidays and its future course will depend upon the decision of the bank commissioners, who will arrive here this evening. The bank of Collins & Sons has long been considered one of the most substantial institutions of this county. It has deposits amounting to over $400,000 from the farmers and business men of this section, but its asserts far exceed this amount. The immediate causes of the suspension are the fact that ready money was not obtainable; the financial stringency, the inability of the farmers to sell their crops and the inability of the bank to secure aid from its correspondents in San Francisco and other cities. Collins' bank was established more than twenty years ago. D. Edward Collins of the California bank of Oakland is its president and J. S. Collins of this city is cashier. I

2. November 12, 1907 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, November 12, 1907

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Article Text

Bank Closes Temporarily. Ventura, Cal., November 11.-The bank of William Collins & Sons of this city closed its doors today and a statement was given out that the bank is tadking advantage of the day as a holiday. The bank of Collins & Sons has long been considered one of the most substantial institutions of this county. It has deposits of over $400,000 from the farmers and business men of this section, but its assets far exceed this amount. The immediate cause of the suspension is the fact that ready money was not obtainable, to the refusal of the farmers to sell their crop and the bank's inability to secure aid from its correspondents in San Francisco and other cities.

3. November 14, 1907 The Free Lance Fredericksburg, VA
Article from The Free Lance, November 14, 1907

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Article Text

Private Bank Closed. Ventura, Cal., Nov. 12.-The bank of William Collins & Sons closed its doors and a statement was given out that the bank is taking advantage of the day to day holiday. The bank has deposits of $400,000 and its assets far exceed that amount. The immediate cause of the suspension is lack of ready money owing to the inability of farmers to sell crops and to the bank's inability to get cash from its corres. pondents in other cities.