First State Bank - Gresham, OR

Episode Information

Episode UID: 96012971593
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 9601297 routing
Routing Number: 96-0129
Start Date: September 26, 1932
Location: Gresham, Oregon (45.498, -122.431)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 48126400d7762b9c

Response Measures

None

Description

Date of failure inferred as Sept 26, 1932 from article dated Feb 12, 1933 referencing 'last' Sept. 26.

Events (2)

1. September 26, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article states the First State Bank failed September 26 last; no specific trigger given.
Newspaper Excerpt: The latter failed September 26 last, since which time that enterprising city has been without banking facilities.
Source: newspapers

2. * Receivership

Newspaper Excerpt: The latter failed September 26 last, since which time that enterprising city has been without banking facilities.
Source: newspapers

Newspaper Articles (1)

1. February 12, 1933 The Sunday Oregonian Portland, OR

Article Text

WOMEN SHREWD INVESTORS STOCK STATISTICS SHOW Survey of Largest American Corporations Shows Number of Women Owning Shares Averages Almost One to Every Two Men. BY LEON B. BAKETEL, Financial Editor, The Oregonian. Women like to dabble in stocks. Most of them make no bones about it and statistics prove that wherever one finds two men "playing the market" there is one woman engaged in the same pastime, although she may not be in evidence. That women are large holders of stocks is verified by a survey just completed which showed more than 40 per cent of stockholders of the largest American corporations to be women. The exact average shown was 40.4 per cent. The number of women stockholders ranged from 21 per cent to as high as 49 per cent. Lowest percentage of women stockholders found in the companies surveyed appeared in the Texas company. Of 85,082 stockholders owning 9,851,236 shares there were 28,664 women stockholders owning 2,163,180 shares, or 21.96 per cent, according to latest available figures. Highest percentage was in the case of National Biscuit company, of which women made up 49.27 per cent of the stockholders. One of the largest utility companies in the world could not furnish up-to-date figures but estimated that it had more women stockholders than men. A leading steel corporation had a total of 231,341 stockholders as of March, 1932, and there were 83,815 women who owned shares of the corporation, or 36.6 per cent of the total number. An interesting point in proportionate holdings was shown in the 1931 annual report of United Gas Improvement company. It said: "As stated in the annual report for the year 1930, the number of common stockholders as of February 10, 1931, was 77,595. As of February 1, 1932, this number increased to 87,795, of which 46.8 per cent were women holding 4,824,405 shares, or 20.7 per cent of the total." Standard Oil company of Indiana had 35,270 women stockholders as of June 15, 1931, as compared with 19,332 in December, 1928. Last available figures show that approximately 36 per cent of the shareholders are women. This company had 102,814 stockholders as of last November 15. Another large oil company reported 50,612 women stockholders November 15 last, or approximately 36 per cent. Women are large holders of railroad shares, as shown by figures of Pennsylvania railroad. The company had 250,506 stockholders as of January 1. Of this number, 108,201 were women, representing 43.19 per cent of the total. They held as of that date 33.27 per cent of the total stock outstanding and the average holding was 39 shares. In a large midwest railroad system, 47 per cent of stockholders are women. Approximately 46 per cent of stockholders of one of the largest electric companies are women and in another corporation in the electrical line women stockholders total 43 per cent. An interesting fact which gives an indication of the extent to which women are investors is revealed in a statement from the statistical division, bureau of internal revenue, Washington, D. C., as of September 8, 1932. Individual returns for 1929 having net incomes of more than $500,000 numbered 1489; joint returns, 932; returns of men, 254, and single women and wives making separate returns totaled 303. Figures given out at that time showed that on all incomes of more than $10,000, a total of 374,032 taxpayers made up this class, of which one-sixth were women. The investor's dollar today will buy 140.3 per cent more assets, 152.5 per cent more surplus and 21.4 per cent more earnings than in 1926, according to an analysis of 35 high-grade common stocks by Administrative and Research corporation of New York. A comparison of the above figures with the investment purchasing power of the dollar in 1929 showed that at year-end prices a dollar would purchase 48.5 per cent in assets, 55.4 per cent in surplus and 55.8 per cent in earnings as compared with 1926. "When will business return to its 1929 level?" is a question asked nearly every day. The Alexander Hamilton institute of New York "does not look for recovery to the 1929 level until 1936, if then," to quote from an article just received. But it does believe that definite recovery in factory output is now in slow progress and bases its forecast thusly: "If the trend of manufacturing during the last five months of 1932 represented the beginning of a definite recovery, as now seems probable, the rate of expansion during this period may be used as a basis in calculating the future trend. The average gain per month during the latter part of 1932 amounted to 1.6 points. At this rate of recovery, the high point reached in June, 1929, would be regained in March, 1936. The annual index of factory output declined from 115 in 1929 to 99 in 1930, to 84 in 1931, and to 63 in 1932. At the calculated rate of recovery the annual index would rise from 63 in 1932 to 75 in 1933, to 95 in 1934 and to 114 in 1935. It is probable, of course, that the actual trend of manufacturing will show more or less variation from such a mechanical program and that factory output may be postponed beyond March 1936." A new name has been selected for the bank the First National will open in Gresham whenever the state charter is granted. It will be known as the Bank of Gresham. This is an old, familiar name to Gresham people. They had a Bank of Gresham for many years, in fact from 1910 to 1932, when it merged with the First State bank. The latter failed September 26 last, since which time that enterprising city has been without banking facilities. It will be like having an old friend return, after a long absence, to renew acquaintances. The name pleases Gresham people, they report. And it will be a sound institution, affiliated with the First National in this city, and under its watchful eye constantly. Henry Rodgers, who will be cashier and manager, is regarded as a "comer" in banking circles and his selection to head the new institution is regarded as a well-merited promotion. The supreme court of California has handed down a decision of far-reaching importance. It has held that an oil company which licenses a service station operator to sell its products on property on which it has acquired a leasehold has a right to insist that the products of no other company be marketed from the premises. This is not the exact language of the court, but is in substance its findings. The case was brought by the Associated Oil company, which lost in the lower court, but won on appeal to the higher court. A. P. Giannini, chairman of the board, Bank of America, has no intention of retiring, as has been reported in some newspapers. "Nothing is further from my thoughts," Mr. Giannini said. "During the proxy battle I pledged myself to protect and promote the best interests of the stockholders and I haven't forgotten my pledge. My job is not yet done, and talk about a successor is premature." E. A. Pierce, head of E. A. Pierce & Co., in a wire to the local office had this to say about promises of improved conditions in cotton: "I believe that a plan for the relief of cotton is in process of formation in Washington, and practically completed, that is more promising and practical than any heretofore suggested in that it should not only restrict production but also remove from the market temporarily the government-owned and controlled cotton, amounting, I understand, to about 3,000,000 bales. Enactment of the measure should be a very constructive move and ought to result in a substantial market advance."