11213. First National Bank (Bozeman, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2027
Charter Number
2027
Start Date
August 27, 1878
Location
Bozeman, Montana (45.680, -111.039)

Metadata

Model
gpt-5-mini
Short Digest
34cb8410

Response Measures

None

Receivership Details

Depositor recovery rate
98.9%
Date receivership started
1878-09-14
Date receivership terminated
1899-02-12
OCC cause of failure
Fraud
Share of assets assessed as good
33.8%
Share of assets assessed as doubtful
65.9%
Share of assets assessed as worthless
0.3%

Description

The First National Bank of Bozeman suspended/closed its doors on Aug. 27, 1878 after its associate People's National Bank of Helena collapsed. The Comptroller/Examiner took possession and a receiver (Lester S. Willson) was appointed; later receivership actions (dividend, sale of bank building and fixtures) indicate permanent closure rather than reopening.

Events (7)

1. August 1, 1872 Chartered
Source
historical_nic
2. August 27, 1878 Suspension
Cause
Local Banks
Cause Details
Closed in compliance with a telegram after the People's National Bank of Helena (an associate/correspondent) collapsed and drew resources from the Bozeman bank.
Newspaper Excerpt
The First National Bank of Bozeman, Montana, has also closed its doors.
Source
newspapers
3. September 1, 1878 Other
Newspaper Excerpt
Gen'l Lester S. Willson has taken charge of the First National Bank of Bozeman, and will probably be appointed Receiver. Mr. Langford was instructed by the Comptroller of the Currency to take possession of the bank on the 1st inst.
Source
newspapers
4. September 14, 1878 Receivership
Source
historical_nic
5. September 19, 1878 Receivership
Newspaper Excerpt
Gen. Lester S. Willson has been appointed receiver of the First National Bank of Bozeman.
Source
newspapers
6. February 6, 1879 Other
Newspaper Excerpt
Dividend of 40 per cent. has been declared to the depositors of the Bank (General Willson, Receiver of the late First National Bank of Bozeman).
Source
newspapers
7. June 14, 1879 Other
Newspaper Excerpt
By authority of the Comptroller of the Currency ... I will offer to the highest and best bidder, the property known as the Bozeman Bank Building with Lot, together with the Bank Fixtures, Safes, Desks, Furniture, &c. LESTER S. WILLSON, Receiver First Nat. Bank.
Source
newspapers

Newspaper Articles (17)

Article from The Wheeling Daily Intelligencer, August 28, 1878

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A National Bank Closed. HELENA, MONT., August 27.-Bv a vote of the Board of Directors, the People's National Bank closed its doors this morning. It is expected that a receiver will be appointed and the depositors will lose nothing if the stockholders pay up their assessments. It is an associate bank. The First National Bank of Bozunan, Montana, has also closed its doors.


Article from Daily Globe, August 28, 1878

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Two Montana Banks Closed. HELENA, Mon., Aug. 27.-By vote of the board of directors the Peoples' National bank closed its doors this morning. It is expected a receiver will be appointed. It is now said the depositors will lose nothing if the stockholders pay up assessments. Its associate bank, the First National, of Boseman, Montana, has also closed its doors.


Article from Bozeman Avant Courier, August 29, 1878

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Bank Suspended. On Tuesday morning last, shortly after the hour of opening, the First National Bank of Bozeman, closed its doors in compliance with a telegram from its President, Geo. W. Fox. of Helena. Upon enquiry, it was ascertained that the People's National Bank of Helena, with which the Bozeman Bank is associated, after dragging along for many months under a heavy financial pressure, yet drawing steadily from the Bozeman Bank its currency and nearly all its available resources, finally collapsed-closed its doors, and, as a consequence, dragged our Bank down with it. But little excitement, apparently, was caused by the suspension. though several depositors were very much inclined to give vent to their just indignation, and probably some serious demonstrations would have been made, but for the calm and timely advice and assurances of Mr. Nelson Story. It is impossible to state positively whether the Bank will be able to resume business or not. We are informed that its liabilities to private depositors are about $67,000-with available assets of, perhaps, $50,000, and there is due from the People's National Bank about $60,000. The private depositors of the Bozeman Bank are generally of the industrial classes-persons of moderate means, several of whom have every dollar they possess deposited there, and should the Bank not be able to resume or pay its indebtedness in full, those who can least afford it will be, comparatively, the heaviest sufferers. The Bank has bcen one of the best paying, or money-making, institutions of the Territory, and nothing but the most reckless management on the part of its President and principal stock-holder could, apparently, have brought about the present cri813.


Article from The Democratic Advocate, August 31, 1878

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Governor Wade Hampton is a martyr to dyspepsia. Judge Black has returned home from his California trip. The national debt of England now stands, by the most recent return, at $3,888,907,980. A tramp named Dennis Belor was lynched, near Shelbyville, Tenn., for an outrage on the wife of Wm. Martin, a farmer. A tornado in Grundy county, Illinois, on Saturday, destroyed several baildings, killed one man and severely injured another. The total amount of grain exported from Baltimore, from January 1st up to the 22d instant, is 8,662,966 bushels, being anincrease of over 7,500,000 bushels for the same time last year. Anthony M. Johnson, of Howard county, Md., raised on an average, from a 55-acre field 41 bushels of wheat to the acre, and Mr. James Clark is said to have grown 44 bushels to the acre. Mike Green and John Sprigg, two negroes, have been lodged in jail at Upper Marlboro', Md., charged with the commission of an outrage upon Miss Alice Sweeny, living in Queen Anne's district. Mrs. Fanny Washington Finch, the great grand-niece of Washington, and supposed to be his nearest living relative, is keeping a boarding house in Washington, and has recently had her furniture attached by a landlord for rent. The People's National Bank of Helena, and the First National Bank of Bozeman, Montanna, suspended Tuesday. They were associate banks. It is said that the depositors in the first named bank will loose nothing "if the stockholders pay up their assessments." A tornado and hail storm visited Fargo, Dakota Territory, on Monday night. Ten or fifteen buildings, among them the Episcopal Church and City hall, were demolished, and many others were damaged. All the glass in the windows facing the north throughout the town were smashed. Three persons were injured, and six horses in one stable were killed. A week ago the spikes and fish plates were removed from a rail near Medicine Bow, W. T., apparently for the purpose of wrecking and robbing a train. Deputy Sheriff Widdowfield and a man named Vincent started on the trail of the robbers, but did not return. Last Sunday their bodies were found in a narrow canyon of Elk Mountain, where they had probably been killed by the robbers.


Article from Idaho Semi-Weekly World, September 3, 1878

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"Oh! no;" replied Cooper, and then continued: "But he has done our cause a-great deal of damage. He is too intemperate in his language." . EUROPEAN EMIGRATION TO OREGON. OMaHa, August 27th.-Col. T. E Hogg, of Oregon, who went to Europe some months ago to stir up immigration to Oregon, passed through to-day homeward bound, and reported that the prospects for European immigration to his State are very poor, as those who had intended to go to Oregon have abandoned the idea, as they liave been scared by the Indian troubles, and therefore he gave up his efforts in that direction. FINANCIAL TROUBLE IN MONTANA. HELENA, August 27th.-By a vote of the Board of Directors, the People's National Bank closed its doors this morning. It is expected that a Receiver will be appointed. It is now said that depositors will lose nothing, if stockholders pay up their assessments. Its associate bank, the First National of Bozeman, Montana, has closed its doors. CONGRESSIONAL LABOR COMMITTEE. NEW YORK, August 27th - The Congressional Labor Committee to-day listened to a recital of the labor statistics of Massachusetts by Carroll D. Wright, Superintendent of the Bureau, who also took a most hopeful view of the outlook. Another hearing will take place to morrow. TRAIN ROBBER CAPTURED. GALVESTON, August 27th -The News' special from Sherman says: Henry Collins, a members of the Bass ga: g of train robbers, was arrested this morning near Howe station, after a sharp skirmish, in which Collins' leg was badly shattered. SARATOGA RACES. SARATOGA, August 27th -The first race, free handicap, one mile, was won by Bramble, Patriot second. Time, 1:45 The second race, free handicap, mile and a quarter, was won by Rhadamanthus, Kilburn second. Time, 2:14. The third race, three-quarters of a mile, was won by Fusilade, Egypt second. Time, 1:17½. In the fourth race, two miles, over eight hurdles, Deadhead had the lead nearly all the way, and won, Dalgasian second. Time, 3:54 BLOWN UP IN A MINE-STOCK EXCITEMENT INCREASING. VIRGINIA (Nev.), August 28th.-John Eslick was blown up in the Mexican mine last night, and will probably I die. The stock excitement here increases hourly, and buyers are largely in the majority. The air is thick with rumors of strikes at the south end, but nothing positive can be gained. A fight for the control of the Comstock S expected.


Article from Watertown Republican, September 4, 1878

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THE People's National Bank of Helena, and the First National Bank of Bozeman, both of Montana Territory, have suspended.


Article from Bozeman Avant Courier, September 5, 1878

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By request of N. P. Langford, Bank Examiner, Gen'l Lester S. Willson has taken charge of the First National Bank of Bozeman, and will probably be appointed Receiver of the institution. Mr. Langford was instructed by the Comptroller of the Currency to take possession of the bank on the 1st inst.


Article from Bozeman Avant Courier, September 19, 1878

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Gen. Lester S. Willson has been appointed receiver of the First National Bank of Bozeman, and Granville Stuart receiver of the People's National Bank, Helena.


Article from Bozeman Avant Courier, September 26, 1878

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Notice. WASHINGTON, D. C., Sept 17, 1878. Notice is hereby given to all persons who may have claims against The First National Bank of Bozeman, that the same must be presented to Loster S. Willson, Receiver, at Bozeman, Montana, with the legal proof thereof, within three months from this date, or they will be disallowed. JOHN JAY KNOX, [45-3m] Comptroller of the Currency.


Article from Bozeman Avant Courier, November 14, 1878

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Court Proceedings. Since our last report the following proceedings were had, to-wit: Story vs. Maclay & Co.; continued. Black vs. Granniss; continued. Story vs. Black; continued. Giesdorff vs. Ramsey; dismissed by plaintiff. Stuart Wilson et. al. vs. L. M. Black; continued. Peter Calhoun & Co. vs. L. M. Black; continued. Lamme & Co. vs. Elmira Frazier, administrator of the estate of G. W. A. Frazier, deceased: continued. Wm. H. Randall vs. Greenhood, Bohm & Co.; continued. Territory of Montana vs. Jacob Oakwood et. al. Forfeiture of recognizance. Defendants motion to set aside the default in the original action. Case tried and judgment entered in favor of plaintiff for costs of this action. L. M. Black vs. Frank Harper et. al.; judgment for plaintiff and bond delivered by the sheriff to the clerk. Proceedings under execution stayed for thirty days. M. T. Williams vs. Robert P. Vi. ion; continued. Chas. J. Keeney et. al. vs. William Flannery; judgment for plaintiff without prejudice to the right of defendant to bring action against plaintiff on their warrant of the stallion described in the answer. Ordered that proceedings under decree be stayed for thirty days. Territory of Montana vs. Archibald Irvine; case tried before jury who returned verdict of not guilty and Irvine ordered to be released from custody. Territory of Montana vs. John Walters; continued on the application of detendant. Ordered that bail be reduced to $250. Territory of Montana vs. John Chinnick; tried before jury, verdict of not guilty returned and defendant ordered discharged from custody. Mary E. Givens vs. Nat. B. Givens; continued. Territory of Montana vs. M. T. Williams. On motion of District Attorney, a change of venue was granted to Madison County. Territory of Montana vs. Wm. H. Tracy. For keeping certain streets in Bozeman obstructed. Tried by court, and defendant found guilty and fined $1 an costs. Defendant excepts. Appeal. Bond fixed at $300. Ordered that obstructions be removed. Detendant allowed sixty days in which to perfect the appeal, and proceedings stayed in the meantime. Herman C. Geisel vs. L. M. Black, et. al. Continued. W. C. Gillette vs. T. Brunett. Judgment entered for plaintiff for $3,796.80. Christina Way vs. Eli B. Way. Ordered that the bonds of matrimony be dissolved, and plaintiff recover her costs. Lester S. Willson, Receiver of the First National Bank of Bozeman, vs. L. M. Black. Continued.


Article from Bozeman Avant Courier, February 6, 1879

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Dividend Ordered. General Willson. Receiver of the late First National Bank of Bozeman. has just received information from Comptroller Knox to the effect that a dividend of 40 per cent. has been declared to the depositors of the Bank. In conformity to "red tape" routine. however. checks for the several amounts must be filled out here. sent to Washington for the signature of Comptroller and then returned to the Receiver for distribution. This will occasion some inconvenience and, apparent. nnnecessary delay, but there is no appeal from "the powers that be."


Article from Helena Weekly Herald, February 13, 1879

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BREVITIES. -The Deer Lodge county Teachers IInstitute is called to convene at the county seat on Monday, March 3d. -See announcement of ball at Prickly Pear House, February 17th. Hewins and Yaeger furnish the music. -The construction of Fort Assiniboine, the new post to be erected on Milk river, will be supervised by Capt. Heintzleman, who last year supervised Fort Keogh. -We notice the Old Reliable Chicago Burlington and Quincy railroad, has been remembering our merchants by leaving with them their calendar for 1879. The C. B. & Q. is a delightful route to travel over. -Some days since we heard that an invitation was to be extended to Gen'l J. S. Brisbin to deliver a lecture in Helena on Montana and its Resources. We trust this invitation has been extended and that the General will respond at an early date. -William Flannery is removing his saw mill from near Fort Ellis to Horse Shoe Bend for the purpose of sawing lumber for Messrs. Huntley & Clark, to be used by them in erecting sheds and corrals for their large herds of sheep.-Courier. -California pulls more wool over the eyes of this country than any other State in the Union. Ohio comes next as a wool producing State, and Texas is making a good third, bidding fair to outstrip her older competitors. Texas has no less than 3,670,000 sheep at present, and the number is rapidly increasing. Montana will lead them all in the production of wool ten years hence. -Comptroller Knox has notified Lester Willson, Receiver of the First National Bank of Bozeman, that a dividend of forty per cent. had been declared to the depositors of that bank. Inspector Langford, after examining the respective accounts of the Peoples National Bank of Helena and the First National of Bozeman, soon after their failure, reports the latter solvent and that depositors of the former would realize upward of fifty per cent. -The Hot Springs House is kept in excellent shape by Mr. and Mrs. Haupt. Bathing is always a luxury, and a douse in hot mineral water, tempered to the right degree, re] news a person's vitality wonderfully. Prob1 ably only a few days more snow smoothing ] the road for rnuners are left for this season, 1 and everybody should improve the present , chance for a sleigh ride to the Springs. Take ] a slide out and after a glorious bath, slide 1 back again. I


Article from Bozeman Avant Courier, May 22, 1879

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Public Sale of Real Estate. 1 By authority of the , omptroller of the Currency, on Saturday, June 14th, 1879, I will offer to the highe it and best bidder, the property known as the Bozeman Bank Building with Lot. together with the Bank Fixtures, Safes. Desks, Furniture, &c., &c. Terms Cash, or approved paper of 30 and 6( lays. In the meantime, private negotiations will be considered for a portion, or the whole, of thiroperty. The right is reserved to reject any and all bids LESTER S. WILLSON, 27 Receiver First Nat. Bank.


Article from Bozeman Avant Courier, May 29, 1879

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Public Sale of Real Estate. I By authority of the Comptroller ot the Carrency, on Saturday, June 14th, 1879, I will offer to the highest and best bidder, the property known as the Bozeman Bank Building with Lot, together with the Bank Fixtures, Safes, Desks, Furniture, &c., &c. Terms Cash, or approved paper of 30 and 60 days. In the meantime, private negotiations will be considered for a portion, or the whole, of this property. The right is reserved to reject any and all bids. LESTER S. WILLSON, 27 Receiver First Nat. Bank.


Article from Bozeman Avant Courier, June 5, 1879

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Publie Sule of Real Estate. By authority of the Comptroller ot the Currency, on Saturday, June 142h, 1879, I will offer to Mochighest and best bidder, the property known as the Bozeman Bank Building with Lot, together with the Bank Fixtures, Safes, Desks, Furniture, &c., &c. Terms Cash, or approved paper of 30 and 60 days. In the meantime, private negotiations will be considered for a portion, or the whole, of this property. The right is reserved to reject any and all bids. LESTER S. WILLSON, Receiver First Nat. Bank. 27


Article from Bozeman Avant Courier, June 12, 1879

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Public Sale of Real Estate. By authority of the Comptroller ot the Currency, on Saturday, June 14th, 1879, I will offer to the highest and best bidder, the property known as the Bozeman Bank Building with Lot, together with the Bank Fixtures, Safes, Desks, Furniture, &c., &e. Terms Cash, or approved paper of 30 and 60 days. In the meantime, private negotiations will be considered for a portion, Oi the whole, of this property. The right is reserved to reject any and all bids. LESTER 8. WILLSON, Receiver lest Nat. Bank. 27


Article from Fergus County Argus, August 3, 1893

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The Closing of Banks. Thursday of last week will be a memorable day in the history of Monrana, particularly of Helena. It was a day of gloom and excitement in the capital city. While trouble was anticipated in the banks, the extent of the run and the result could not be determined in advance. and when the erisis came there were many surprises to people in all parts of the state. The telephone messages came into the Lewistown office thick and fast Friday morning, bring ing news not only from Helena, but from other cities and towns in the state. Following is a list of banks, firms and individuals that have temporairily closed their doors or made assignments in the past week or ten days: First National and Montana National banks of Helena. First National and Merchants National banks of Great Falls, Gallatin Valley National and First National banks of Bozeman, First National and Park National banks of Livingston. First National bank of Red Lodge. Great Falls Iron Works Butte & Montana Mercantile Co. of Great Falls Paynter Drug Co., and Chas. W. Cannon, A. M. Holter, S. C. Ashby and The Electric Light & Power Co., of Helena; Stockgrowers Bank of Miles City.