gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
817ebfdc8375d677
Response Measures
None
Description
Suspended in July 1893 amid national stringency; later placed in receivership with dividends paid over subsequent years.
Events (3)
1.July 3, 1893Suspension
Cause
Macro News
Cause Details
Closed contemporaneously with suspension of California banks and money-market stringency making loan collection impossible.
Newspaper Excerpt
The New Mexico Savings bank and Trust company also closed, but they say depositors will be paid in full.
Source
newspapers
2.January 12, 1895Receivership
Newspaper Excerpt
Jos. E. Saint's resignation as receiver of the New Mexico Savings Bank & Trust company was accepted and Neil B. Field was appointed to the place.
Source
newspapers
3.December 2, 1904Other
Newspaper Excerpt
The New Mexico Saving Bank and Trust company failed in Albuquerque in 1893 ... the last 10 per cent. or final dividend of the failed institution, has not paid to depositors.
Source
newspapers
Newspaper Articles (20)
1.July 4, 1893The HeraldLos Angeles, CA
Click image to open full size in new tab
Article Text
EMBARRASSED BANKS. The Financial Tidal Wave Strikes Albuquerque, N. M. ALBUQUERQUE, N. M., July 3. - -The following notice is posted on the doors of the Albuquerque National bank this morning: "Compelled to temporarily suspend business. This has been brought about by the unusual demands of depositors since the enspension of the California banks, about 10 days ago, and the absolute impossibility during the present business depression to call in our loans. It is confidently hoped we can soon resame business and that every creditor will be paid in full, as the assets greatly exceed the liabilities." The enspenston will cause no loss to depositors, as the bank has a eurplue of $40,000. The other banks are exceptionally strong and have a large cash reserve. Fall confidence is expressed by the citizens, and no rana whatever are being made. The liabilities of the Albuquerque National bank are $270,000, and assets $420,000. The New Mexico Savings bank and Trust company also closed, but they say the da... positors will be paid in full.
2.July 4, 1893The Daily Morning AstorianAstoria, OR
Click image to open full size in new tab
Article Text
BANK FAILURE. Albuquerque, N. M., July 3.- The Albuquerque National Bank has been compelled temporarily to suspend business. It is stated that the assets greatly exceed the liabilities. Albuquerque N. M., July 3.-The Albuquerque National Bank, which closed today, has liabilities of $275,000; assets, $420,000. The New Mexico Savings Bank and Trust Company also closed, but they say depositors will be paid in full.
3.July 4, 1893The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
FORCED TO CLOSE, . The Albuquerque National Bank Suspends Payment-Will Pay in Full. ALBUQUERQUE, N. M., July - The following notice was posted on the doors of the Albuquerque National bank this morning: "The Albuquerque National bank is compelled to temporarily suspend business. This is brought about by the unusual demands of depositors since the suspension of the California banks about ten days ago, and absolute impossibility during the present business depression to call in our loans. It is confidently hoped we can soon resume business and that every creditor be paid in full, as the assets greatly exceed the liabilities. (Signed) John A. Lee, vice-president." The suspension will cause no loss to depositors, as the bank has a surplus of $40,000. Other banks are exceptionally strong and have a large cash reserve. Full confidence is expressed by citizens and no runs whatever are being made. The liabilities of the Albuquerque National bank are $275,000; assets, $420,000. The New Mexico Savings bank and Trust company has also closed, but they say depositors will be paid in full.
4.July 4, 1893St. Paul Daily GlobeSaint Paul, MN
Click image to open full size in new tab
Article Text
BANKS CLOSE UP. New Mexico and Colorado Institutions Suspend. ALBUQUERQUE, N. M., July 3.-The Albuquerque National bank, which always has been recognized as next to the largest institution of the kind in the city, failed to open its doors th : S inorning, posting un a notice to the effect that the suspension is only temporarydepositors need have no tear of not being paid in full. The New Mexico Savings Bank and Trust company. an adjunct of the Albuquerque, is also closed, with the same kind of a notice posted up. John A. Lee, vice president of the national bank, states that all depositors will be paid in full by both banks. Territorial funds to the amount of $30,000, and county funds to $30,000 had only recently been deposited in the Albuquerque National bank. No run has been made on the other banks. GOLDEN, Col., July 3.-The Jefferson County bank in this city made au assignment this afternoon. The total liab. lities of the bank are placed at $76,538.79, while the assets are $111,350.35. LEADVILLE, Col., July3.-The American National bank did not open its doors this morning, owing to the impossibility of realizing upon securities. No statement of assets and liabilities is made, A number of depositors had withdrawn their money, but a great deal more money had been deposited than taken out. The probabilities are that the bank will resume. ASPEN, Col., July 3.-The McPherson County bank did not open its doors this morning, but instead made an assignment for the benefit of its creditors. Impossibility to collect on notes outstanding is given as the cause of the failure. No statement as to assets and liabilities has so far been made public. CINCINNATI, July 3.-Freidberg Bros., one of the largest wholesale liquor firms in this city, failed at noon today for $200,000, caused by stringency of the money market.
5.July 4, 1893Omaha Daily BeeOmaha, NE
Click image to open full size in new tab
Article Text
FAILURE AT ALBUQUERQUE. Suspension of the Albuquerque National Bank-Depositurs will Be Paid. ALBUQUERQUE, N. M., July 3.-The Albuquerque National bank suspended this morning. The officers claim the suspension is only temporary and that the assets greatly exceed the liabilities. The suspension of the Albuquerque National bank will cause no loss to depositors, as the suspension is temporary. and, even if otherwise, as the bank has not only paid up capital of $175,000 but a surplus of $40,000. Its stock is held by more than 100 wealthy men in Vermont, New York and other eastern states, who are liable to immediate assessment of the full amount of their $175,000 of stock holdings, which would be paid over to the depositors. The bank has besides a large line of assets of its own. The other two banks of this city are exceptionally strong and have a large cash reserve. Full confidence is expressed on every hand by the citizens, and no runs whatever are being made. The First National bank has long been recognized as one of the largest and soundest banking institutions of the west. Its footings are more than $1,000.000. Cashier C. C. Hall states that the liabilities of the Albuquerque National bank are $275,000; assets, $420,000. The New Mexico Savings Bank and Trust company also closed, but they say depositors will be paid in full.
6.July 7, 1893Western LiberalLordsburg, NM
Click image to open full size in new tab
Article Text
On Monday the Albuquerque National bank did not open its doors for business, but a notice was posted sayitg that owing to the withdrawal of some large deposits since the failures of the California banks and the impossibility of realizing on loans it was compelled to close for a period. The bank claims to be perfectly solvent and will pay out dollar for dollar in a short time. The territory has about $50,000 on deposit in this bank, but it is amply secured by a bond of $300,000 signed by some of the most reliable men in Albuquerqne. The New Mexice Savings Bank and Trust Company an adjunct of the bank closed its doors at the same time. The stringency of the money market is the cause of these failures, as given by the Albuquerque papers. Others who claim to be acquainted with the affairs of the bank say the trouble is an old one, reaching as far back as the Dane failures in this county. These banks being intimately connected, at one time Mr. Dane was a director of the Albuquerque concern and he came near pulling it down. Ever since the failures in this county the bank was on the ragged edge and a failure would have caused no surprise at any time. Many outside banks refused credit their customers for checks er. this to uk, simply taking them for collection. Which story is right the LIBERAL is unable to state, but if the latter is correct the people who knew all about it were criminally silent when the bill was before the legislature providing for the deposit of the territerial funds in this institution. This is the first bank failure in the territory since the present stringency set in and we trust it will be the last. The patrons of the other banks in Albuquerque did not seem to be scared, there was no run on them. They are both solid institutions, the First National being one of the best in the territory.
7.July 12, 1893The StarReynoldsville, PA
Click image to open full size in new tab
Article Text
LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. BALTIMORE, Mo.-The individual banks of this city and the Clearing House association have refused to longer assume responsbility for checks, etc., deposited with them until after collection has been made by them. The First National Bank of San Diego, Cal.. which suspended a month ago, has re. sumed. ALBEQUERQUE, N. M.-The albequerque National Ban't suspended and the New Mexico Savings Bank and Trust Company, an adjunet, also closed. GOLDEN. Coto.-The Jefferson County bank in this city has made an assignment. PHILLIPSBURG, MONT.-The First National bank closed its doors. Ward's bank of Fosterville, N. Y., has failed. There were $75,000 of deposits. The body of the proprietor was found in the rear of his house. He CO nmitted suicide. WINNIPEG, MAN.--The Commercial bank of Manitoba has been declared insolvent and liquidators have been ap; ointed. The bills of the bank are as good as gold under the Dominion law. The American Loan and trust Company Omaha, Neb., went into the hands of a receiver. The company has a paid up capital of $400,000. The cause of the failure was the failure at Houston, Tex., of the Omaha and Houston Improvement Company. The Finley county bank of Garden City, Kas., has failed. The American National bank. of Pueblo, Col., was not opened Wednesday morning. Notices on the door stated that the bank will resume as soon as it can secure money on its paper. After the suspension of the American National bank became known. the Central National and the Western National closed. These are all sound concerns and assets are ample. NEW YORK.-The New Jersey Sheep and Wool Company and the Gausevort Market Sheep Company failed Thursday morning. It is feared the failures will affect many small concerns. The liabilities will exceed $500,000, OMAHA. NEB.--The National bank of Ashland clo ed its doors. The closing of the American Saving Bank of this city are sup. posed to be the cause of the failure. NEW YORK.-A run started on the Jefferon County Savings bank. Governor Flower was present and in a speech gave assurance that the bank was entirely safe. The speech had an excellent effect. OMAHA, NEB-The American savings bank suspended with deposits of $159,000 and assets of $259,000.
8.July 13, 1893The Middleburgh PostMiddleburg, PA
Click image to open full size in new tab
Article Text
LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. BALTIMORE, Mo.-The individual banks of this city and the Clearing House association have refused to longer assume responsbility for checks, etc., deposited with them antil after collection has been made by them. The First National Bank of San Diego, Cal., which suspended a month ago, has reumed. ALBEQUERQUE, N. M.-The albequerque National Ban's suspended and the New Mexico Savings Bank and Trust Company, an adjunct, also closed. GOLDEN. Coto.-The Jefferson County bank in this city has made an assignment. PHILLIPSHURG, MONT.-The First National bank closed its doors. Ward's bank of Fosterville, N. Y., has failed. There were $75,000 of deposits. The body of the proprietor was found in the rear of his house. He CO nmitted suicide. WINNIPEG, MAN.-The Commercial bank of Manitoba has been declared insolvent and liquidators have been ap: ointed. The bills of the bank are as good as gold under the Dominion law. The American Loan and trust Company Omaha, Neb., went into the hands of a receiver. The company has a paid up capital of $400,000. The cause of the failure was the failure at Houston, Tex., of the Omaba and Houston Improvement Company The Finley county bank of Garden City, Kas., has failed. The American National bank of Pueblo, Col., was not opened Wednesday morning. Notices on the door stated that the bank will resume as soon as it can secure money on its paper. After the suspension of the American National ban't became known. the Central National and the Western National closed. These are all sound concerns and assets are ample. NEW YORK.-The New Jersey Sheep and Wool Company and the Gausevort Market Sheep Company failed Thursday morning. It is feared the failures will affect many small concerns. The liabilities will exceed $500,000. OMAHA. NEB.--The National bank of Ashand clo ed its doors. The closing of the American Saving Bank of this city are supposed to be the cause of the failure. NEW YORK.-A run started on the Jefferon County Savings bank. Governor Flower was present and in a speech gave assurance that the bank was entirely safe. The speech bad an excellent effect. OMAHA, NEB-The American savings bank suspended with deposits of $153,000 and assets of $259,000.
9.July 21, 1893Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
Click image to open full size in new tab
Article Text
REDUCED FUNDS. Moneys Locked Up in the Closed Albuquerque Banks-Hard on the Territorial Treasury. Hon. R. J. Palen, territorial treasurer. in view of the lock up of $60,000 of territorial funds in the closed Albuquerque National and Albuquerque Savings banks, has addressed a letter to Hon. Demetrio Perez, auditor, concerning the disposition of the territorial funds now available in payment of appropriations, from which the NEW MEXICAN quotes: "I have the honor to inform you that in view of the recent suspension of the Albuquerque National bank and the New Mexico Savings Bank & Trust company, of Albuquerque, n re-adjustment of the available cash balances in the various funds against which you draw your warrants on the treasurer has become necessary. "According to the figures on my books the moneys tied up by the suspension of these banks is as follows: Albuquerque National bank, gen$21,068 46 eral depositary Albuquerque National bank, special 28,000 depositary New Mexico Savings Bank & Trust 8,000 company Total $57,568 46 The total cash balance in the territorial treasury at the close of business July 10, was $122,048.57. Deductions from this amount must be made as follows: $57,568 46 Tied up in Albuquerque banks Cash in National Bank of Commerce. New York 7,012 51 26 32 Cash items in office, small expenses Total $61,607 29 Leaving the available cash in the treasury at $57,441.28. From this, however, should be deducted, in my judgement, as not available for other purposes, under section 3, chapter 61, laws of 1893, the interest funds which amount to $30,368.36, this leaves $27,072.92 actually available for the regular appropriations, the special funds and for the territorial institutions. The balance of these funds, 44th fiscal year, amount to $59,334.32, or more than double the cash balance available for their payment. In view of this state of affairs it seems to me that until such time as the funds in the suspended Albuquerque banks are released, partially at least, it will be necessary to assume the percentage of cash receipts to the appropriations for the 44th fiscal year to be 25 per cent instead of 50 per cent, the basis we have gone on heretofore, and that the available cash receipts from the special taxes be rated at one-half the actual receipts. If this is correct, it will be necessary to suspend further drafts against these appropriations and funds where the amount already drawn equals or exceeds 25 per cent of the appropriations and to draw on the other funds only up to that percentage."
DIVIDEND DECLARED
Call on Receiver Saint and secure
Per Cent Dividend.
The fourth dividend of the New M
Savings Bank & Trust company is
declared, and the depositors can
another 10 per cent of their deposit
calling on Receiver Saint, at his oth
Second street, in the Whiting bui.
While this dividend would have
many of our citizens extremely h
during the holidays, it is very acce-
now, or for that matter at any time
ceiver Saint informs THE CITIZENS that he
has every assurance that a dividend
at least 25 per cent, will be declared
the next few months.
11.May 8, 1895Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
Click image to open full size in new tab
Article Text
Fine McBrayer whisky at Colorado sa.oon. A New Receiver. In the district court at Albuquerque Jos. E. Saint's resignation as receiver of the New Mexico Savings Bank & Trust company was accepted and Neil B. Field was appointed to the place. Receiver Field filed his bond in the sum of $50,000, with the names of the following as his bondsmen: Alex Bowie, of Gallup; Thos. B. Catron, of Santa Fe; Edward Dodd, W. Y. Walton, H. E. Leeds, Meliton Chavez, Andres Romero, J. L. Perea and W. W. Strong, of Albuquerque.
12.October 18, 1895Western LiberalLordsburg, NM
Click image to open full size in new tab
Article Text
A dividend of ten per cent has been declared by Receiver Field of the New Mexico savings bank and trust company at Albuquerque.
13.May 20, 1896Las Vegas Daily OpticLas Vegas, NM
Click image to open full size in new tab
Article Text
Receiver Field, of the New Mexico Savings Bank and Trust company, Albuquerque, notified depositors that another 10 per cent. dividend has been declared.
14.May 19, 1899Santa Fe New MexicanSanta Fe., Santa Fe, NM
Click image to open full size in new tab
Article Text
Albuquerque Items. A. J. Van Cott, who shot himself, died yesterday. A natatorium is being built by Ralph Goodwin. Deputy Sheriff Newcomer has been appointed receiver of the New Mexico Savings Bank & Trust company at a salary of $150 per month. Depositors have received 80 per cent of amounts originally due. Professor J. P. Owen has been admitted to practice law. The term of court will end Saturday, but Judge Crumpacker will begin another term Monday, acting for Chief Justice Mills.
Dividend Declared. C. E. Newcomer, receiver, will be at the office of P. F. McCanna, room 11, Grant building, on Saturday, May 5, 1900, from 2 to 6 and 7 to 9 p. m., for the purpose of paying a 10 per cent dividend to the depositors of the New Mexico Savings Bank and Trust company. After that date he can be found at the sheriff's office in the court house. Special Saturday Prices at the Albuquer-
Dividend Declared. C. E. Newcomer, receiver, will be at the office of P. F. McCanna, room 11, Grant building, on Saturday, May 5, 1900, from 2 to 6 and 7 to 9 p. m., for the purpose of paying a 10 per cent dividend to the depositors of the New Mexico Savings Bank and Trust company. After that date he can be found at the sheriff's office in the court house.
Call for Your Dividend. C, E. Newcomer, receiver, will be at room 11, Grant building, from 2 to 5, from May 7 to May 11, inclusive, for the purpose of paying a 10 per cent dividend to the depositors of the New Mexico Savings Bank and Trust company.
Call for Your Dividend. C. E. Newcomer, receiver, will be at room 11, Grant building, from 2 to 5, from May 7 to May 11, inclusive, for the purpose of paying a 10 per cent dividend to the depositors of the New Mexico Savings Bank and Trust company.
Real Estate Transfers. C. E. Newcomer, receiver of the New Mexico Savings Bank and Trust company to Lyman B. Putney estate, bar. gain and sale deed to lots 24 and 25. block letter B, in Atlantic & Pacific addition; consideration, $600, Mrs. Jessie R. Nichols. warranty deed to William A. Clark to north onehalf of southeast quarter section 14, township 15 north, range 19 west: $1. John A. Riley and wife to Mann Bros., bargain and sale deed to lot 10, block 14, Francisco Armijo y Otero addition: $500. Benceslado Chavez and wife to Lucita Gavinade Chavez. to a piece of land in the town of Atrisco; $1.
land in township 6 north, range 2 east, containing 37.40 acres. Also any other real estate, the title to which is vested in the said C. EC. Newcomer as receiver of the New Mexico Savings Bank and Trust company, and which has not heretofore been conveyed to him. Also, all notes, judgments, accounts and debts of every kind held by the said C. E. Newcomer as such receiver or due to him as such receiver. The instrument was sworn to before W. E. Dame, clerk of the United States district court by Mr. Newcomer as follows: "On this 2nd day of December, A. D. 1504, before the clerk of the United States district court of the second judicial district of New Mexico, personally appeared C. E. Newcomer, receiver of New Mexico Savings and Trust company, and to me personally known, and acknowledged that he executed the above and foregoing instrument as his free act and deed for the uses, purposes and consideration therein expressed." The New Mexico Saving Bank and Trust company failed in Albuquerque in 1893. It is reported that previous to this sale, which is probably the final act of the receiver, that the in. stitution had paid the depositors about 90 per cent. Judge W. D. Lee acted as attorney for the defunct institution. The instrument filed in the matter does not show the intrinsic value of the property nor that It was appraised. The last 10 per cent. or final dividend of the failed institution, has not paid tu depositors.
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.
Flag Article for Review
Flag Episode for Review
New Mexico Savings Bank & Trust Company · UID 9898604091123
