Fifth National Bank - St Louis, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2835
Charter Number: 2835
Start Date: *
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: 967c9db8

Response Measures

None

Receivership Details

Depositor recovery rate: 96.6%
Date receivership started: 1887-11-15
Date receivership terminated: 1901-06-10
OCC cause of failure: Excessive lending
Share of assets assessed as good: 36.9%
Share of assets assessed as doubtful: 59.1%
Share of assets assessed as worthless: 3.9%

Description

Article (1897-12-31) discusses the governor acting 'while receiver of the Fifth National Bank of St. Louis' and accuses misconduct in handling the receivership. No mention of a depositor run or a reopening; bank clearly had a receiver appointed and remained in that state for years.

Events (3)

1. December 12, 1882 Chartered

Source: historical_nic

2. November 15, 1887 Receivership

Source: historical_nic

3. * Receivership

Newspaper Excerpt: the present governor while receiver of the Fifth National Bank of St. Louis
Source: newspapers

Newspaper Articles (1)

1. December 31, 1897 The Holt County Sentinel Oregon, MO

Article from The Holt County Sentinel, December 31, 1897

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Article Text

# Beate the Bland-North Deal. And now it seems there is another disgrace in high Democratic circles that beats the Bland North deal lately exposed by the Globe Democrat. One of the St. Louis papers charging in a series of articles appearing in its colums from week to week, that the present governor while receiver of the Fifth National Bank of St. Louis gave out the report that the bank's assets would not pay thirty cents on the dol-Isr; that the governor's brother in law, one Lewis Nelson, and a clerk and cousin of the governor's in the Stephens bank at Boonville named Levins, who was in solvent, industriously bought up the greater portion of the paper of the Fifth National, and that the governor as receiver, within one year after circulating the report of the small value of the assets paid Nelson and Levins, or in fact, as the paper charges, Nelson and himself eighty cents on every dollar of the bank's debts which had been purchased by them, thus netting to Nelson, Stephens & Co., some $40,000. In addition, it is charged that the governor compromised, without the knowledge or advice of his attorneys, a suit in favor of the bank for $250,000 against the Overstoltz estate for $22,000, when the estate was amply good for the debt and there was no substantial defense to the action, thus virtually depriving the bank's credit of $228,000, which he should in the honest discharge of his duty have collected. It is also further charged that notwithstanding the governor's Popocratie mouthings hes na been protected in these irregularities by one of Cleveland's cabinet officers from Missouri who had great influence with Eckles, the comptroller of the treasury, and that although twelve years have elapsed since the governor was appointed receiver, he has not been forced to make a final settlement and accounting. Talk about the Bland North deal. If the charges against the present governor are true, Bland's poor, miserable, selfish action in bribing North to getout of his way sinks into the semblance of a misdemeanor comparede with it.-Henry County Republican.