Bank of Anacortes (Anacortes, WA)

Episode Information

Episode UID
9562419391123
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
956241939 hash
Start Date
July 19, 1893
Location
Anacortes, Washington (48.513, -122.613)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
251bc4fb0c8ee28f

Response Measures

None

Description

Suspended July 1893 due to inability to realize on securities; later appointed receiver (mentioned 1894) and assets sold.

Events (2)
1. July 19, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to realize on securities (bad or illiquid assets) led to suspension.
Newspaper Excerpt
The Bank of Anacortes has suspended owing to inability to realize on securities. Liabilities $29,000; assets $78,000. Depositors will be paid in full.
Source
newspapers
2. November 3, 1894 Receivership
Newspaper Excerpt
J. E. Boyer, Clarence M. Austin and John Lemar, as receiver of the Bank of Anacortes, are joined as parties defendant.
Source
newspapers

Newspaper Articles (11)
1. July 18, 1893 The Evening World New York, NY
Article from The Evening World, July 18, 1893

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Article Text

Various Bus ness Troubles. The Bank of Anancortes. Wash.. failed to open its doors yesterday. Liabilities $21.000 assets, $78. 000. Deto itors will be paid in full. At a meeting of the creditors o' F. A. Brown I Co..furnituremanuianturers.al Boston yesterday. it was deci ed that Mr. own pay 25 per cent. on an indehtednes of $28.000. Phelps & Lembard. leather dealers. of 75 High street, Boston. owe about * 200, 500. which includes 133. 750 10 otes indorsed by Richardson & Dennie. who procured their discount Lappen Company's stock was sold at sherifi's sale al West Superior. Wis.. yesterday for $12,000 to 11. B. Booth. George K. Schofiel'. of Indianapol's for many years n dealer in horses. mules and buggies. mad an assign meat yesterlay for the benefit of cred t. ord. Assets. 860. 000: liabilities. 40,000. Conrad Betzer. or forniture dealer, of Lima. O m ade an a signment yesterday. In conner tion with the Douglas County Bank failure. President George W. Lumley. of Pierre, was Arrested jesie lay also Directors S. 11. Lichter. James A. Wilson and K. M. Poster, of Armour. N. : As a result of the recent The n'on Bank failure Nancy M., W. N. and John D. Niewa son. er. tensive farmers and stock raisers. 01 She yvl e. III., assigned to W. E. Malker. Liabilities. $30,000 assets, $25,000.

2. July 18, 1893 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 18, 1893

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Failures. As a result of the recent Thornto: bank failure, Nancy M., W. N. and John D. Stewardson, extensive farmers and stock raisers of Shellbyville, Ills., have ,assigned to W. E. Walker. Liabilities about $30,000; asserts $25,000. The Bank of Anacortes, Washn., failed to-day. The First National Bank of Fort Scott, Kas., the oldest financial institution in southeastern Kansas, has suspended. The Citizens Bank of Ada, the most prominent one in Hardin county, Ohio, failed to open its doors this morning. The Union National Bank of Denver, Col., failed to open its doors this morning. The capital is $1,000,000, No statement can be had. The Commercial National Bank and the National Bank of Commerce have also assigned. A run is now being made on the City National, German National, First Na. tional, Colorado National and all the 11 clearing house banks in Denyer. The panic is on.

3. July 19, 1893 The Providence News Providence, RI
Article from The Providence News, July 19, 1893

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Other Business Troubles. The bank of Anancortes, Wash., failed to open its doors yesterday. Liabilities, $21,000; assets, $73,000. Depositors will be paid in full. At a meeting of the creditors of F. A. Brown & Co., furniture manufacturers, of Boston, it was decided that Mr. Brown pay 25 per cent. on an indebtedness of $23,000. Phelps & Lombard, leather dealers, of 75 High street, Boston, owe about $200,000, which includes $133,750 in notes endorsed by Richardson & Dennie, who procured their discount. George D. Schofield, of Indianapolis, for many years a dealer in horses, mules and buggies, made an assignment yesterday for the benefit of creditors. Assets, $30,000; liabilities, $40,000. Conrad Betzer, jr., furniture dealer, of Lima, O., made an assignment yesterday. As a result of the recent Thornton bank failure Nancy M., W. M. and John D. Stewardson, extensive farmers and stock raisers, of Shelbyville, Ind., assigned to W. E. Walker. Liabilities, $80,000; assets, $25,000.

4. July 19, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 19, 1893

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eastern Kansas. It had a capital stock of $300,000 fully paid in, and has always stood all runs. A run on the People's Savings Bank was started, but the thirty day law was taken advantage of, and the bank was saved from being swamped. Topeka, Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the fail. ures of the Citizens' Bank of Kansas City, Kan.; of the Bank of Richmond, and of the Farmers' and Merchants' Bank. at Ossawattomie. The concerns all did a small business. Statements are unobtainable. The opinion Is expressed that other institutions throughout the State will soon go under. Toledo, July 18.-The Citizens' Bank of Ada, the most prominent one in Hardin County, failed to open its doors this morning. Its owner, Peter Ablfield, has controlled it for over a quarter of a century, and is one of the wealthiest men of that section. No statement of assets and liabilities, or the cause of failure, can be obtained. Anacortes, Wash.. July 18.-The Bank of Anacortes failed to open its doors yesterday, owing to inability to realize on securities. The liabilities are $29,000 and the assets, $78,000. Depositors will be paid in full. Kansas City, July 18.-Although last night the bankers of Kansas City did not expect to get through to-day without trouble. none came: and the impresston prevails that to-day marked the beginning of the end of the recent financial flurry. There is evidence to-day that the people have stopped to think. It is a notable fact that no man who had money in the bank of Kansas City or the Missouri National has the slightest doubt of getting every cent of it. The banks in Kansas City which have failed are the National Bank of Kansas City. the Missouri National Bank. the Kansas City Safe Deposit and Savings Bank. and the Bank of Grand Avenue, the latter being a State bank. Armourdale, Kan July 18.-The Citizens' Bank sugpended payment to day with assets of $151.000 and liabilities of $126,500. State Bank Commissioner Breiden that took possession of the bank. Among the heavy creditors of the bank is the county of Wyandotto, which had on deposit some $40,000 of its funds.

5. July 19, 1893 The Representative Saint Paul, Minneapolis, MN
Article from The Representative, July 19, 1893

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Article Text

The Bank of Anacortes Fails. ANACORTES, Wash., July 19.-The Bank of Anacortes has suspended owing to inability to realize on securities. Liabilities $29,000; assets $78,000. Depositors will be paid in full.

6. July 21, 1893 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, July 21, 1893

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Article Text

The Bank of Anacortes Fails. ANACORTES, Wash., July 19.-The Bank of Anacortes has suspended owing to inability to realize on securities. Liabilities $29,000; assets $78,000. Depositors will be paid in full.

7. July 21, 1893 The Columbian Bloomsburg, PA
Article from The Columbian, July 21, 1893

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WEDNESDAY, JULY 19. The gold reserve took another downward tumble yesterday from $98,059,480, its amount Monday, to $97,672,862. The Interior Department announces the death in Oklahoma of William M. Stone, ex-Commissioner of the General Land Office. At the inquest at Valetta yesterday into the cause of the Victoria disaster, it was elicited that Admiral Tryon said after the accident "It was all my fault." Lloyd Aspinwall, the well known New York club man, who is being sued for separation by his wife, is confined in Yorkville prison for further examination in default of $5,000 bail on a charge of forgery. The bank of Anancortes, Wash., failed to open its doors yesterday. Liabilities, $21,000; assets, $73,000. Depositors will be paid in full. Three national and three private banks at Denver, Col., failed yesterday. It is claimed by Denver bankers that at least $8,000,000 was drawn from the banks during the past few days on account of the financial scare and that the concerns could not stand the strain. The Executive Committee of the Pennsylvania Democratic Society met at the Bolton House, at Harrisburg, last evening and decided upon September 26th as the date for the meeting of this year's general assembly at Allentown. Julia Gavora, 18 years old, was standing near a loom in the Botany worsted mill, at Passaic, N. J., yesterday afternoon, when a shuttle flew loose and struck her on the throat. She fell to the floor, and, seized with convulsions, died in a few minutes. At a meeting of the creditors of F. A. Brown & Co., furniture manufacturers, of Boston, it was decided that Mr. Brown pay 25 per cent. on an indebtedness of $23,000. Phelps & Lombard, leather dealers, of 75 High street, Boston, owe about $200,000, which includes $133,750 in notes endorsed by Richardson & Dennie, who procured their discount. As a result of the recent Thornton bank failure Nancy M., W. M. and John D. Stewardson, extensive farmers and stock raisers, of Shelbyville, Ind., assigned to W. E. Walker. Liabilities, $30,000; assets, $25,000.

8. November 7, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 7, 1893

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Article Text

JOHN M. PLATT DISCHARGED. No Intention on His Part to Defraud the City of Anacortes. ANACORTES, Nov. 6.-(Special.j--The case of the state against ex-City Treasurer Piatt, charged with larceny by embezzlement of funds belonging to the city of Anacortes, came up today in continuation of the examination begun early in September. The evidence showed a shortage of $7,583.29, and defendant's counsel admitted that the ex-treasurer had failed to turn over this amount to his successor, but argued that as the amount was to the credit of the treasurer in the suspended Bank of Anacortes there had been no intent on Platt's part to defraud the city. Justice Beard took this view of the case, and the ex-treasurer was discharged.

9. November 15, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, November 15, 1893

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FROM WASHINGTON STATE. Ex-Treasurer Platt of Anacortes Not an Embezzler. TACOMA, Wash., Nov. 14.-Congressman Doolittle, who has arrived home, says be has the assurance of the House Committee on Interstate and Foreign Commerce that his resolution providing for a joint commission to visit Nicaragua and report on the advisability of extending Government aid to the Nicaragua canal will be favorably reported on early in the regular session of Congress. Doolittle thinks the commission will visit Nicaragua during the intermission of Congress. At Anacortes the case of the State against ex-City Treasurer Platt, charged with the embezziement of funds belonging to that city, has been dismissed. The amount of the shortage was $7583 29, but it was shown that, the money was to the credit of Platt's successor in the suspended bank of Anacortes.

10. November 3, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 3, 1894

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To Set Aside a Tax Deed. J. T. Hunt yesterday began an action in the superior court to have a tax deed to jo. 6, block 13, Central addition, set aside. The property was sold July 18, 1891, to cover a delinquency of $2.67, H. C. Colver being the purchaser, and November 12 Adolph Krug, then city treasurer, executed a deed. Hunt claims that no notice was ever given him of these proceedings and that the action of the city treasurer was in excess of his authority. Colver claims that all charges and costs up to date do not exceed $23.90, which sum he has repeatedly tendered, but it has been refused. J. E. Boyer, Clarence M. Austin and John Lemar, as receiver of the Bank of Anacortes, are joined as parties defendant.

11. April 29, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 29, 1896

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The Bank of Anscortes Assets. Anacortes, April 28.-Spectal.-The effects of the Bank of Anacortes, which suspended in 1893, were sold at assignee's sale a few days ago and brought but a small sum, compared with the bank's liabilities. The assets consisted of fixtures, the bank's equity in some wildcat real estate, and and a Job lot of notes which had very little value. All real estate to which the bank had title had been mortgaged prior to the bank's suspension, and the paper possessing real value had been rediscounted, so that there was really very little in sight when the assignee took charge. So far as can be ascertained, there was only $3,500 insurance on the Metcalf & Wade mill, which burned Friday, $2,500 on the mill plant itself and $1,000 on shingies.