gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7c045f4773eeb3b9
Response Measures
None
Receivership Details
Date receivership started
1907-10-25
Date receivership terminated
1908-02-10
OCC cause of failure
Losses
Description
Article names The First National Bank in New York but provides limited identifying detail; could be ambiguity among similarly named institutions.
Events (5)
1.March 21, 1865Chartered
Source
historical_nic
2.January 19, 1897Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed its doors, inspector in charge; accusations that officers may have accepted deposits while insolvent and examiner criticized management.
Newspaper Excerpt
The First National Bank, which closed its doors yesterday. accepted deposits up to closing Saturday.
Source
newspapers
3.October 25, 1907Receivership
Source
historical_nic
4.February 10, 1908Restored To Solvency
Source
historical_nic
5.November 22, 1928Voluntary Liquidation
Source
historical_nic
Newspaper Articles (7)
1.February 27, 1896Freeland TribuneFreeland, PA
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Article Text
NATCHAUG SILK COMPANY. Depositions To Be Taken Before a Commissioner This Week. Willimantic, Conn., Feb. 25.-Depositions of former officers of the Natchaug Silk company will be taken here this week before Commissioner Briscoe of Hartford in the injunction case now in the United States court in New York, that of Hadden & Co., China & Japan Silk company, Morimura, et al, raw silk dealers, heavy creditors of the Natchaug company, against G. W. Pangborn, who claims to be the present owner of manufactured goods in New York, transferred to the receiver of the First National bank before the appointment of a receiver for the Natchaug company.
2.November 9, 1896Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
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Article Text
PLENTY OF GOLD IN NEW YORK The Gotham Banks Contemplating Resumption of Gold Payments and Thus Relieving Treasury. GOLD WILL BE PUT INTO CIRCULATION Wheat Market Broke Season's Record This Morning-December Jumped to Over 80 Cents-Rise Not Attended by Excitement. New York, Nov. 9. -The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury and eventually forced the issue of bonds by the government. Since election the yellow metal has been coming into the banks in a flood. By this action of the banks, gold will be put into circulation, and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury of a great strain.
3.November 9, 1896Deseret Evening NewsSalt Lake City, UT
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Article Text
WILL RESUME SPECIE PAYMENT, The Banks will Supaly Gold and ReHeve the areasury, NEW YORK, Nov. 9,-The banks are contemplating the resumption of specie payments which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury, and eventually forced the issue of bonds by the government, which aroused so much complaint. Since the election, the metal has been coming into the banks in such a flood that they see their way clear to what can be ternied re. sumption of specie payments. By this action of the banks, gold will be put into circulation and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury of a great strain.
4.November 9, 1896The Topeka State JournalTopeka, KS
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Article Text
BANKS WILL PAY OUT GOLD They Will Relieve the Treasury of the Burden it Had. New York, Nov. 9.-The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of government dues. That action threw the burden of supplying gold upon the treasury and eventually forced the issue of bonds by the government which aroused SO much complaint. Since the election gold has been coming into the banks in such a flood they see their way clear to what can be termed the resumption of specie payments. By this action of the banks gold will be put into circulation and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury from the strain.
5.November 10, 1896The Dalles Daily ChronicleDalles, OR
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Article Text
Banks Feel the Effect of Restored Confidence. NEW YORK, Nov. 9.-The banks are contemplating the resumption of specie payments which they suspended in February, 1892, by refusing to supply gold for export and for payment of government dues. That action threw the burden of supplying gold upon the treasury, and eventually forced the issue of bonds by the government, which aroused so much complaint. Since the election the metal has been coming into the banks in such a flood that they see their way clear to what can be termed a resumption of specie payments. By this action of the banks gold will be put into circulation, and no occasion whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury of a great strain.
6.November 10, 1896Pine Bluff Daily GraphicPine Bluff, AR
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Article Text
THEIR WAY CLEAR Coming Into the Banks In a Flood. PTION OF SPECIE PAYMENT York Banks Are Contemplating Move-They - Suspended Such stent In February, 1892, by Reto Supply Gold For Export-Facnd Shops Running Full Time. YORK, Nov. 10.-The banks are W implating the resumption of specie ents, which they suspended in arry, 1892, by refusing to supply for export and for the payment of mment dues. That action threw borden of supplying gold upon the Sary and eventually forced the issue bonds by the government, which red SO much complaint. Since the metal has been coming into the firs in such a flood that they see their clear to what can be termed the reotion of specie payments. By this of the banks gold will be put on circulation and no reasons whatwill exist for hoarding it. They also resume the task of supplying for export and thus relieve the stray from the strain.
7.January 20, 1897The San Francisco CallSan Francisco, CA
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Article Text
100K ALL IN SIGHT. The First National Bank Accepted Deposits Up to the Close. NEW YORK, N. Y., Jan. 19.-The First National Bank, which closed its doors yesterday. accepted deposits up to closing Saturday. It was unknown Friday whether the bank would open Saturday morning. Bank Inspector Walter, who IS in charge, says if it can be proven that the bank was insolvent and that its officers knew it, then the acceptance of deposits was a violation of law. Comptroller Eckels says that Bank Examiner Tucker criticized the management of the bank in his October letter and the officers were promptly notified. Another failure to-day resulted from the closing of the bank. J. H. and Leonard Shafer & Co. assigned as commission merchants. Liabilities and assets are not known. The Newport banks were not subjected to runs to-day and had they been would easily have met any demand on them.
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.
