gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f6d4e3c924d2f2e1
Response Measures
None
Description
Closure was by court order with a receiver appointed at the president's instance.
Events (2)
1.May 11, 1894Receivership
Newspaper Excerpt
J.S. Whitehouse has been appointed receiver. This action was taken at the instance of W. F. Reynolds, the president, whose home is in Chicago.
Source
newspapers
2.May 11, 1894Suspension
Cause
Government Action
Cause Details
Closed by superior court order; receiver appointed after president W. F. Reynolds declared the bank insolvent.
Newspaper Excerpt
CLOSED ITS DOORS. A Tacoma Bank in the Hands of a Receiver. TACOMA, May 11.-The State Savings bank closed its deors today on an order from the court.
Source
newspapers
Newspaper Articles (18)
1.May 12, 1894The HeraldLos Angeles, CA
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Article Text
CLOSED ITS DOORS. A Tacoma Bank in the Hands of a Receiver. TACOMA, May 11.-The State Savings bank closed its deors today on an order from the court. J.S. Whitehouse has been appointed receiver. This action was taken at the instance of W. F. Rey. nolds, the president, whose home is in Chicago. He arrived here two weeks age,and has been convinced that the institution is insolvent. He teek action without knowledge of other bank officials, who are very indignant and claim the bank is perfectly solvent. The city has $89,982 deposited in the institution. The total deposits are $104,040.99. The total assets are not known accurately, but the officials claim that they greatly exceed the liabilities. The bank is carrying over $156,000 worth of paper. The officials and stockhelders claim that President Reynolds was induced to take this action by a man who wanted to be appointed receiver, but who failed to get the plum. The bank is & minor institution.
2.May 13, 1894New-York TribuneNew York, NY
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Article Text
RECEIVER FOR A TACOMA SAVINGS BANK. Tacoma, Wash., May 12.-W. F. Reynolds, a Chicago real estate man, yesterday placed the State Savings Bank, in this city, in the hands of a recelver on the ground that It was insolvent. Reynolds was made president of the bank ninety days ago, upon purchasing some of the stock. He had the books examined, and thus discovered the condition of the bank. The Lombard Investment Company, of Boston, was interested in the bank. The city has $89,982 deposited in the institution. The total deposits are $104,040 99. The total assets are not known accurately, but the officers declare that they greatly exceed the liabilities. The bank is carrying more than $156,000 worth of paper.
3.May 13, 1894St. Paul Daily GlobeSaint Paul, MN
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Article Text
Tacoma Bank Closed. TACOMA, May 12.-The State Savings bank has closed its doors on an order from the superior court. Justice White has been appointed receiver. This action was taken at the instance of Mr. Reynolds, the president, whose home is in Chicago. He arrived here two weeks ago, and has become convinced
4.May 14, 1894St. Paul Daily GlobeSaint Paul, MN
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Article Text
Tacoma Bank Closed. TACOMA, May 12.-The State Savings bank has closed its doors on an order from the superior court. Justice White has been appointed receiver. This action was taken at the instance of Mr. Reynolds, the president. whose home is in Chicago. He arrived here two weeks ago, and has become convinced the institution is insolvent. The citA has $89,983 deposited in the institution. The total deposits are $104,040.99. The total assets are not known accurately, but the officers claim that they exceed the liabilities.
5.May 25, 1894The Seattle Post-IntelligencerSeattle, WA
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Article Text
The State Savings Bank. Tacoma, May 23-[Special.]-Reesiver Whitehouse, of the State Savings bank, has reported as follows to the superior court: Cash in vault, $1,311; Tacoma general fund warrants carried as cash, $5,187; other items carried as cash, $761; due from banks, $4,483; overdrafts, $1,408; bills recelvable, $146,909; furniture and fixtures, $950; total assets, $260,788; statement of liabilities furnished receiver on taking possession, $178,934; amount of bank stock, $50,000.
6.July 9, 1894The Seattle Post-IntelligencerSeattle, WA
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Some of Boggs' Depositors Spared. TACOMA, July 8.-[Special.]-Judge Stallcup has decided that C. P. Plass, who made a deposit of $242 in the State Savings bank shortly before it closed. was entitled to the money. This is significant. It was brought to the notice of the court after the bank suspended that for a time previous
7.October 18, 1894The Seattle Post-IntelligencerSeattle, WA
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Tacoma Sues the State Savings Bank. TACOMA, Oct. 17.-[Special.]-On behalf of the city City Attorney Wickersham has sued Receiver J. 8. Whitehouse, of the suspended State Savings bank for $5,227 worth of city warrants, on the ground that they were part of the city's reported $89,000 deposit at the time the bank suspended. Whitehouse has refused to turn the warrants over to City Treasurer McCauley. City officials say the suits against ex-City Treasurer Boggs' bondsmen for $140,000 locked up in suspended banks will be commenced BOOD. It is estimated that at least 40 cent. of this amount will be paid by the receivers of the various suspended banks.
8.November 1, 1894The Seattle Post-IntelligencerSeattle, WA
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TACOMA AFTER MR. BOGGS. The City Trying to Get Its Money From the Ex-Treasurer. TACOMA, Oct. 31-The superior court decided that the receiver of the suspended State Savings bank must turn over to the city the $5,000 city warrante on hand when the bank closed. This decision has attracted public attennon to the efforts of the city council to adjust the unsettled accounts of ex-City Ireasurer George W. Boggs. Mr. Bogga is at of the city. Drastic methods are favored by some of the councilmen to effect settlement.
9.November 6, 1894The Record-UnionSacramento, CA
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TACOMA CITY WARRANTS. Claim That Investors Hold Many Which Have Been Redeemed. TACOMA (Wash.), Nov. -This city, it is stated, is about to demand, mostly of the representatives of Eastern investors. $212,000 in city warrants, alleged to have been illegally countersigned "unpaid for lack of funds" and subsequently illegally settled by the ex-City Treasurer, George Boggs. The whole matter turned upon the failure of the State Savings Bank of this city, in which at the time of its suspension Boggs reported the deposit of $89,000, included in which was $50,000 in city warrants which the court last week ordered returned to the city. In addition to this, the court, after reflecting on the bank, ordered the City Attorney to prepare an amended complaint which will cover the reclaiming of all the warrants on the ground that they have been once redeemed by the city.
10.November 6, 1894The Morning CallSan Francisco, CA
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REDEEMED ONCE. Tacoma to Demand the Return of Money Warrants. TACOMA, Nov. 5.-This city, it is stated, is about to demand, mostly of the representatives of Eastern investors, $212,000 in city warrants, alleged to have been illegally countersigned "unpaid for lack of funds" and subsequently illegally settled by the ex-City Treasurer George Boggs. The whole matter turned upon the failure of the State Savings Bank of this city, in which at the time of its suspension Boggs reported the deposit of $89,000, included in which was $50,000 in city warrants which the court last week ordered returned to the city. In addition to this the court, after reflecting on the bank, ordered the City Attorney to prepare an amended complaint which will cover the reclaiming of all the warrants on the ground that they have been once redeemed by the city.
11.November 9, 1894The Record-UnionSacramento, CA
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Article Text
Charged With Embezzlement. TACOMA, Nov. 8.-George. W. Boggs, ex-City Treasurer, was arrested to-night upon information by the County Attorney, charging the embezzlement of $24,368, the sum deposited by him in the suspended State Savings Bank. He immediately gave bail.
12.November 9, 1894The Morning CallSan Francisco, CA
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Ex-City Treasurer Arrested. TACOMA, Wash., Nov. 8.-George W. Boggs, ex-City Treasurer, was arrested to-hight upon information by the County Attorney charging him with the embezzlement of $24,368, the sum deposited by him in the suspended State Savings Bank. He immediately gave bail,
13.November 9, 1894The HeraldLos Angeles, CA
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Arrested for Hmbezzlement. TACOMA, Nov. 9.-George W. Bogga. ex-city treasurer, was arrested ton ight upon the information by the county attorney, charging embezzlement of $24,268, the sum deposited by him in the suspended State Savings bank. He immediately gave bail.
14.November 25, 1894The Seattle Post-IntelligencerSeattle, WA
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To Protect Holders of Tacoma Warrants. TACOMA, Nov. 24.-{Special.]-The Chamber of Commerce will test in the supreme court the protection to be given innocent holders of city and county warrants in this state. This will settle what right, if any, the city has in the $212,000 of city warrants deposited as cash for the city just before ex-Treasurer Boggs went out of office. The superior court has ordered $5,000 of city warrants deposited as cash by ex-City Treasurer Boggs in the suspended State Savings bank, returned to the city. But the commercial bodies do not consider that binds an "innocent holder." If there proves to be no relief for innocent holders of warrants, it is proposed to have the legislature furnish protection.
15.October 20, 1895The Seattle Post-IntelligencerSeattle, WA
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M'CAULEY JUMPED ON. Council Blames Him for Tacoma's Loss of Funds. HIS BOND DECLARED NOT GOOD. He Shows That the Mischief Was Done by Boggs-Receiver Appointed for German-American Bank. Tacoma, Oct. 19.-Special.-The finance committee of the city council, which has apparently gone gunning for City Treasurer McCauley, presented a report at today's session of the council which brought out a full and at times bitter discussion of city finances. The report severely arraigned Mr. McCauley's administration, and laid particular stress on the condition of the deposits of city funds in banks. Mr. McCauley, the committee held, acted with bad judgment in making deposits in some of the banks. The committee reported in favor of making the city treasurer pay into the treasury $2,600, which the committee claims is a shortage. It was shown that $1,000 was deposited in the State Savings bank a few days before It failed, by mistake of
16.February 18, 1897The Seattle Post-IntelligencerSeattle, WA
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AN EMPTY JUDGMENT. City's Claim Against a Defunct Bank Allowed. TACOMA, Feb. 17.-Special.-An order was issued by Judge Williamson, of the superior court today in the case of Blake against the State Savings bank, which affects the money belonging to the city that was on deposit in the institution when it closed its doors. The city contended for about $80,000 in its first complaint, but the matter was settled by the attorneys today and the order of the court sets the amount at $52,500. The order says that the money was deposited in the bank by George W. Boggs and J. W. McAuley as city treasurers, prior to the appointing of a receiver, and that the amount due the city is $52,500, a.fter deducting all items which represent warrants, notes or instruments and all fictitlous deposits. Some wonder is expressed as to what is meant by fictitious deposite, as this matter was brought out in Boggs' first trial and dismissed. The city will gain nothing by the order, as there are no funds in the receiver's hands to pay the city's claim.
17.February 16, 1898The Seattle Post-IntelligencerSeattle, WA
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Taxes Not a Preferred Lien. Special Dispatch to the Post-Intelligencer. TACOMA, Feb. 15.-The petition of Stephen Judson, county treasurer, to have the taxes for the year 1894 against the defendant State Savings Bank, of which J. S. Whitehouse is receiver, made a prior lien on the assets of the bank, was today denied by Judge Carroll in the superior court. The claim amounts to about $1,500.
18.February 22, 1898The Seattle Post-IntelligencerSeattle, WA
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SMALL DIVIDEND RECEIVED. Tacoma Gets $1,500 From Defunct Bank on a $52,000 Claim. Special Dispatch to the Post-Intelligencer. TACOMA, Feb. 21.-The.city today received a cash installment of the money due it from the defunet State Savings bank, which at the time of its decline, according to the controller's books, was indebted to the city in the sum of $86,000. The payment made today was a pro rata dividend on debts, made by receiver, and is in the sum of $1,500. The credits of the city at the time of the failure of the bank led to a suit, those in charge at the bank claiming the city did not have $86,000 due. The result of the action was a judgment in favor of the city for $52,000. and, concluding to let well enough alone, the decision of the court was accepted as final. The $1,500 paid over today is on account of this $52,000. City officials look upon it as a pure pick-up, and were surprised when they learned of it. They expect but a small percentage of the indebtedness all told, and consider anything paid in this way "just like finding it."
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.
