10070. Montana National Bank (Helena, MT)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
2813
Charter Number
2813
Start Date
July 31, 1893
Location
Helena, Montana (46.593, -112.036)

Metadata

Model
gpt-5-mini
Short Digest
4dd4e5c6be40059e

Response Measures

None

Receivership Details

Date receivership started
1893-08-02
Date receivership terminated
1893-12-11
OCC cause of failure
Losses

Description

Articles report a voluntary/panic-era suspension of the Montana National Bank in July 1893 with a receiver appointed and the bank later reopening under Marlow (Dec 1893). A separate, minor run occurred Oct 26, 1896 but the bank met demands and remained open. The main suspension was not caused by a discrete misinformation event but by broader 1893 distress (interpreted as macro/systemic panic). OCR errors in Article 2 corrected (dates and names normalized).

Events (8)

1. November 11, 1882 Chartered
Source
historical_nic
2. July 31, 1893 Suspension
Cause
Macro News
Cause Details
Suspension occurred during the 1893 banking distress/panic period; article notes voluntary suspensions authorized by state law and the bank suspended July 1893.
Newspaper Excerpt
July 1893. bank suspended. July 31, 1893. meeting called for placing bank hands of its doors.
Source
newspapers
3. August 2, 1893 Receivership
Source
historical_nic
4. December 11, 1893 Receivership
Newspaper Excerpt
receiver: Marlow appointed Dec. 11, 1893. bank reopened, Marlow elected president.
Source
newspapers
5. December 11, 1893 Reopening
Newspaper Excerpt
bank reopened, Marlow elected president.
Source
newspapers
6. December 11, 1893 Restored To Solvency
Source
historical_nic
7. October 26, 1896 Run
Cause
Local Banks
Cause Details
Run grew out of distrust created by the failure of the First National of Helena; depositors briefly withdrew funds but the bank met demands.
Measures
Met every demand; paid withdrawals and reassured depositors.
Newspaper Excerpt
The Montana National had a little run for a day or two, but as the depositors soon found out it was invulnerable, and had more money than depositors could possibly call for, they soon got tired and quit.
Source
newspapers
8. February 23, 1901 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from The Salt Lake Herald, October 27, 1896

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Article Text

HELENA BANKS. A Startling Rumor That Many of Them Were on the Verge of Collapse Is Denied. (Special to The Herald.) BUTTE, Mont., Oct. 26.-The startling rumor that several additional banks in Helena were on the verge of collapse was circulated in business circles today, but the following special received in Butte this evening indicates that the runs on the banks is not so serious as reported: "The run on the Merchants' Nationl bank, which began last week, has almost abated, and the institution is meeting every demand, and claims it will hold out till every depositor is paid in full. The Montana National had a little run for a day or two, but as the depositors soon found out it was invulnerable, and had more money than depositors could possibly call for, they soon got tired and quit. The trouble all grew out of the distrust created by the failure of the First National of Helena, and the methods of the management of that institution. It advertised to pay interest and accented deposits from all over Montana, and as far off as Minnesota, and when it had corralled all the loose money it could expect, it failed because the Northern Pacific drew out a paltry $60,000. "One man in Beaverhead county had $60,000, every dollar he had on earth, deposited in that institution.


Article from The Independent-Record, May 21, 1931

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Article Text

COLONEL BROADWATER AND MONTANA NATIONAL BANK FLOYD lands and industries and that mark Mon- his death camo following attack have not been of Influenza and pneumonia. progress nor have they sulting from work clated with and through some maintenance of Montana occult power capable of tions. emotions within the breast of hero Wealth Did Not Change Him worshipers of the passing hour. The caroer of Colonel BroadMontana's monuments, whether water. from his Initial undertakthey be of marble. granite. stone in Montana to the time of his or the hearts of men, are such death, reveals well formulated exemplify the hardy. yet kindplan of life. Founded on the exponents of the square broad basis of humanitarianism, he gospel zealous advocate of modern which made possible the movements of International progstate of the present day. ress. Democratic principle Hence, formal opening well politics. he carried his the First National Bank Trust victions into every action of his company of Helena. marking the life wealth and when smiled kindmerging forces of three of the he still retained his friendly ingreat banking institutions of the terests and genial comradship for state capital. has been brought those with whom he tolled that about through whim fate, Montana might be better state idle fantasy, no accidental in which live pulse. The opening of the portals When the Montana National of the structure at Sixth and Main, bank was taken over by the the heart of Helena's commertional Bank of Montana, in 1901, district has not only marked Marlow, nephew of the Illusanother progressive step, but has trious Colonel Broadwater, aroused anew the memory of honored by being selected presibuilders of decades ago who laid dent. surrounded by group of foundations of such solidity that directors whose works have made institutions such as these might be possible strides of Helena and her made possible. hinterland. Outstanding among these trail The Montana National blazers finance and progressive 1882. organized April activity was Colonel Charles capital stock of would have been incorporated October and September. had he been on November 1882 the charter spared to visualize the products of granted and authorized his incessant endeavor. do business by the comptroller the Man of the currency. Carlyle has well said: "History The following information. tellthe essence of The ing the financial story of the old particularly prevails the Montana National bank. until history of Colonel Broadwater in became the National Bank of the upbuilding of Helena, its inspiring: virons. its banking and Story of Officers the state at large. He Oct. 1882, board of directors leader men and elected: Broadwater. opinion. Ilis carrer one Sharpe, Clarke. Potts. of singular activity touching upon affairs of great scope and Gans, Ashby. Cronnse. tance. one esoteric Cannon, Webster. phase. Upon the foundation laid DePauw. Colonel Broadwater and his Officers: Broadwater. sociates. financial president: Clarke. vice tutions of Helena today. three dent. Ebenezer Sharpe. cashier which have merged to form the May 1883. meeting authorizFirst National Bank Trust erection of building at foot Broadway. pany during Vigilante that Oct. 18. 1883. plans for Colonel Broadwater became bank made by Boyington. fied Montana's progress In architect of Chicago. accepted. 1861 started west from Virgin- Oct. 1883. capital stock Colorado. but during the gold rush days Jan. officers re-elected City, that he became Atkinson elected assistant identified Montana history handled pack train for Nov. Clarke later Capt. Nick signed president. L. Wall represented John appointed to fill vacancy. of Louis, founders of the Jan. Sharpe Diamond lines. later purchased interest pointed acting cashier. the lines and operated them capital stock 1879 when railway builders until engineers west Smith the undeveloped resources. pointed second assistant cashier. Association with the "Diamond June 30. Atkinson brought association resigned assistant cashier company railroad officials and Smith secured contract to provide assistant terial for the construction of Fort May Assiniboine and later for Fort died. Maginnis. During those June days state he became signed president. clated with Robert McCullough Jan. 1893. John Murphy and McNamara. both elected president: McCullater became prominently lough. vice president: identified with Montana industrial. assistant agricultural and financial cashier. prises. July meeting called Work With James Hill decided upon extending his railroad operations the Pacific coast. he relied upon Colonel Broadwater to dle his affairs in Montana. Ills rugged. stern ability. his foresight and vigor kept him in the forefront of construction of the lines Montana and the war of found him in his true ment. Under the of Colonel Broadwater, the Montana Central from Butte Great Falls as were RimMarysville Neihart branches. directly due untiring efforts that IIIII Induced route his lines to Helena and Butte. Not for self were these tremendous dertakings completed. but for the welfare of his constituency and his state. During these years of strenuous progress, accomplished through keen leadership and aggressive ability. Colonel Broadwater came interested in Montana's ancial institutions. He realized the necessity for some outstanding palace entertainment and thus made possible the great Broadwater hotel and plunge being the largest enclosed natural ter plunge in the nation. sign and in lavish adornment decoration which still splendid condition when completed. they strate the liberality of his humanitarian efforts. Work for the City When Helena was shanty town scattered upon the slopes of Last Chance gulch. the Broadwater and plunge were formulated the aggressive colonel and brought about expenditure about in order that the community might benefit and the watering place ducement other capital well the location of military post. which came later. The Montana National bank predecessor of the National of one of the group of three institutions which make up the First National Bank Trust company founded by Colonel Broadwater 1883. He largely interested other banks Great Falls and Neihart, heavily interested the townsite of Great Falls, fore the period struggle from mond. vice 1913 then being ciates Montana. Montana laws consolidate. and besides thorizing voluntary suspension withdrawals. July 1893. bank suspended. July 31. 1893. meeting called for placing bank hands of its doors. ceiver: Marlow appointed Dec. 11, 1893. bank reopened, Marlow elected president: rectors, John Peter Larson. Galen. David South Wales Cory. McNamara, Henry Brated States nober. Herman Gans, parents who Nick Wilder. Kansas, Ford. McCullough and general Marlow. now Officers: Marlow. William dent; McCullough. vice presifather's death dent: Smith. moved to Jan. 1895. Hammond resigned vice and Herman Gans elected to fill cancy. Sept. A. Marlow mond went signed as president. Smith sources of elected to fill vacancy. Kurtz elected Oct. 15, 1808. capital stock cashier of duced from $500.000 to Savings Jan. 31. 1899, W. H. Dickinson elected vice elected assistant cashier. tution: later Jan. 1895. meeting called for the National purpose of ratifying action of January. 1930. ficers bank donating fight between Helena and conda state capital. Wayland Feb. 23. 1901. Montana National bank purchased by The National Bank of Montana.