11300. Dillon National Bank (Dillon, MT)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
3173
Charter Number
3173
Start Date
August 30, 1893
Location
Dillon, Montana (45.216, -112.638)

Metadata

Model
gpt-5-mini
Short Digest
8c58da5f

Response Measures

Full suspension

Other: Bank announced voluntary liquidation and that depositors would be paid in full.

Description

Newspaper extracts describe the Dillon National Bank failing to open in August 1893 with a posted notice blaming continued withdrawals and inability to make collections; the bank announced it would go into voluntary liquidation and depositors would be paid, indicating a run leading to suspension and permanent closure (voluntary liquidation). OCR corrected capitalization and punctuation; dates taken from the 1893 'Brushing Up' entry (Aug 30, 1893).

Events (5)

1. May 2, 1884 Chartered
Source
historical_nic
2. August 30, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Continued withdrawals of deposits and inability to make collections led depositors to withdraw funds (a liquidity run on the bank).
Measures
Bank closed doors and posted notice; announced voluntary liquidation and that depositors would be paid in full.
Newspaper Excerpt
The Dillon National bank failed to open its doors on Thursday morning. The following notice posted on the door explained the reasons: Owing to the continued withdrawal of deposits and inability to make collections this bank is closed and will go into voluntary liquidation. Depositors will be paid in full.
Source
newspapers
3. August 30, 1893 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank closed and announced it would go into voluntary liquidation due to withdrawals and collection problems.
Newspaper Excerpt
Owing to the continued withdrawal of deposits and inability to make collections this bank is closed and will go into voluntary liquidation.
Source
newspapers
4. September 20, 1893 Voluntary Liquidation
Source
historical_nic
5. September 5, 1899 Other
Newspaper Excerpt
the Dillon National bank were among those that suspended.
Source
newspapers

Newspaper Articles (2)

Article from The Anaconda Standard, September 5, 1899

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Article Text

Montana was not exempt from bank suspensions. In general, however, Montana weathered the storm in fine shape. The Bi-Metallic mine closed down on June 29 and a few other and smaller silver mines followed suit. The C. R. Higgins, Western bank of Missoula, the Merchants' National bank of Great Falls, the Montana National bank and the First National bank of Helena, the Merchants' bank of Livingston and the First National bank of Great Falls, the National Park bank of Livingston, the banking house of J. H. Conrad & Co. of Red Lodge, the Stockgrowers' National bank of Miles City and the Dillon National bank were among those that suspended. During July silver mass meetings were held in several cities and the Montana Free Coinage Association was organized. Labor day was observed with extraordinary zest on September 5. The principal celebration was held at Anaconda, where Ignatious Donnelly was the speaker. On September 30 three Chinamen were brutally murdered in Butte, the crime causing a great sensation. Early in October a sheriff's posse had a running fight with Northern Pacific train robbers, during which two of the robbers were killed and one was captured. On October 12 President Batchelor of the Stockgrowers' National bank of Miles City was arrested on charges of irregularity in the conduct of the bank, and on November 12 ex-President Will Hanks of Great Falls was indicted by the grand jury on similar charges. On November 24 the Northern Pacific announced a cut in the wages of its employes. The announcement created great excitement all along the line and committees were sent from Montana to St. Paul to enter a protest. On November 30 the "Library Ball" at Butte was a brilliant social event. On December 27 occurred the formal opening of the Butte, Anaconda & Pacific railroad. The building of the road had begun in the spring and was pushed to completion with all possible speed. A1though the Anaconda company had patched up its differences with the Montana Union, it felt that a line of its own was necessary in order to avoid the possibility of future trouble. The Montana Union in the courts fought the B., A. & P's right of way, but the B. A. & P. invariably won, and its formal opening on Dec. 27 was the OCcassion of great rejoicing in both Butte and Anaconda. Subsequently the B., A. & P. bought the Montana Union tracks between Anaconda and Stuart, while the Northern Pacific acquired proprietorship over the track extending between Butte and Garrison. In 1893 Marcus Daly's horses continued to win fame and money in the East, the total winnings of the stable being $76,612.50. The largest stake was the Junior Champion, won by Senator Grady. Tammany, Sir Matthew, The Pepper and Sam Lucas were all credited with notable performances. Fine race meetings were held this year in Butte and Anaconda.


Article from Dillon Tribune, August 30, 1933

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Article Text

BRUSHING UP August 30, 1893. A train holdup in the most approved Jesse James style occurred on the Northern Pacific railroad near Livingston on Sunday night. The robbers laid their plans well and succeeded in relieving the passengers of many hundreds of dollars and plenty of watches and jewelry in the bargain. The Dillon National bank failed to open its doors on Thursday morning. The following notice posted on the door explained the reasons: "Owing to the continued withdrawal of deposits and inability to make collections this bank is closed and will go into voluntary liquidation. Depositors will be paid in full." This announcement occasioned some excitement, but there was no run on the other bank, the First National. Some old boxes filled with excelsior were found on fire in the back yard of the Dillon Mercantile company's store early on Thursday evening. Loungers in Mulaney & Brainerd's saloon quickly rushed to the scene and extinguished the fire before it had a chance to spread. September 9, 1903. Within the next few months Dillon will have one of the best electric light plants in the West in operation, for by that time the Graeter Electric company will have installed all of its new machinery in its power house near the Lovell springs. Dr. Asa Willard of this city was elected president of the society at the annual meeting of the state osteopaths which was In session in Helena last week. Walter Hoyt was before Justice Rich yesterday morning charged with cruelly beating one of the livery horses belonging to A. L. Anderson. He was fined $25. The stork alighted on the Herbert Selway chimney last week and left a bouncing baby boy of 121/2 pounds to gladden the Selway home. Missoula had en exciting day of runaways Wednesday, seven teams racing with themselves through the principal streets of the town during the afternoon. September 8, 1913. A wedding of great interest not only to the people of Dillon but to the whole of Beaverhead county, was that solemnized on Monday afternoon at five o'clock at St. James church, when Archdeacon Sidney D. Hooker united In the holy bonds of wedlock, Miss Catherine Paxton and F.D. Willis. For the second time within a week robbers broke into the store of Hughes & McCaleb on Montana street Monday night or early Tuesday morning and got away with four more six-shooters. The robbers were found at Lima where they were in the act of forwarding two of the guns to San Francisco. Batting averages of the hard hitting Dillon Independent baseball team, who won 13 out of 16 games this season, were as follows: Des Jardine, 571 (two games); Holtz, 409; Longtin, 343; Faller, .333; Duff, .327; Stephenson; 326; Conger, 325; Wheat, 298; G. Gosman, 291; Pease, .272; Jennings, 272; Leverett, 255; Bradley, 232; Brundage, 200; Glibert, .181.