11386. Peoples National Bank (Helena, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2105
Charter Number
2105
Start Date
August 27, 1878
Location
Helena, Montana (46.593, -112.036)

Metadata

Model
gpt-5-mini
Short Digest
1d204acd

Response Measures

None

Receivership Details

Depositor recovery rate
40.7%
Date receivership started
1878-09-13
Date receivership terminated
1899-02-12
OCC cause of failure
Fraud
Share of assets assessed as good
11.1%
Share of assets assessed as doubtful
32.4%
Share of assets assessed as worthless
56.5%

Description

The People's (Peoples) National Bank of Helena closed by vote of its board on Aug 27, 1878 and a receiver (Granville Stuart) was later appointed (reported Sept 19, 1878). Articles describe insolvency/financial pressure and expected receivership; no discrete run triggered by rumor is described. I corrected minor punctuation in the bank name (Peoples' vs People's).

Events (4)

1. May 13, 1873 Chartered
Source
historical_nic
2. August 27, 1878 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed by board vote due to heavy financial pressure/insolvency and inability to meet obligations; associated bank ties worsened position.
Newspaper Excerpt
By a vote of the Board of Directors, the People's National Bank closed its doors this morning.
Source
newspapers
3. September 13, 1878 Receivership
Source
historical_nic
4. September 19, 1878 Receivership
Newspaper Excerpt
Granville Stuart receiver of the People's National Bank, Helena.
Source
newspapers

Newspaper Articles (10)

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 Union County Courier, September 4, 1878

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NEWS IN BRIEF, GENERAL FOREIGN NOTES. mention SEVERAL Vienna specials the Andrassy try in precarious consequence position of of Bosnian complications. never again says England will help raise one THE Times a Turkish loan or of the Rhodope guarantee principal charge is that of bomburning zone of barding commission THE and against disarm. Russians villages A near Demotika Rhodope, several The which refused to Shanemika and comrecommends has miles been between completely devastated. permanent internaBritish mission commission and local Adrianople police. reports tional consul at to plunder THE the Bulgarians continue The Greek that Mussulmans. the consul has most hisde archbishop and outrage the communicated to strocities. feat details of the telegraphs the the GENERAL of the heavy insurgents JOVANOVICH blow to resistance at the Stolats, Herzegovin was on not 21st, was The chiefs the count of Stolatz has attitude of the were killed. obstinate. an insurrection. Most treacherous of the been insurgent fired on in- ac. that announces habitants. Deuloche Zeitung between the porte conAustria difficulties THE have of a arisen nature to retard the and of the convention. the that Mon clusion A Ragusa are telegram indeavoring states shell the Turks Al an tenegrins of Podgoriza says the Arnauts, out VIENNA dispatch to defend their territory against benian A tribe, are Servians preparing who are massing near Urania it be at not would surprised troops THE Constitutionel if President nays MacMahon signed all in loss October. of the Bosnians at It Serajeva is thought 300 THE killed and 700 wounded. carried away by their has many in addition Austrian wounded, that 300. proof friends. IT is stated from of Seragevo Servia's complicity in of like discovered Montenegro obli cused been the Bosnian insurrestion violation of international the that announces gations. GEN. J. OVANOVICE before Stalatz inst., were after car insurgent by the positions Austrians fighting. the 21st Several Austrians in several ried hours severe killed. The wounded Austrians lost ten killed captured surgent chiefs we and thirty-two twenty-seven The non at Serapud. died Spain, Adresse, CHRISTINA, of on the 22d inst. Servis, QUEEN France, has issued of Servin Sainte proclama PRINCE and MILAN, announcing a reduction of of the the independence army peace footing. at Berlin to retain telegraphe her of that A Russia has Constantinople until the inst. positions before Batoum is completed. the 20th evacuation HOSTILITIES Turks broke and Montenegrins insurgents have near been defeated between the thousand loss. Pedgoritza. Five near Stolatz with heavy THE EAST. 1 of whisky ONE hundred distillery, and fifty barrels Chillicothe, the Ohio, 27th. I from seized Emmett's at New York city, on began its on were Charge, under gauged. tural congress the THE annual national session agricultur at New Haven, Conn., rubber manufacturer, on the 26th. HORACE 27th. H. DAY, died the at Manchester, well-known N. H., & SONS, their creditors, issuing years. with seven at have REMINGTON settled per cent bonds in various reaching iron mills seven workmen againsta reduction THE Pa. struck e strikers number over Philadelphia, 24th. to the amalga association of wages a thousand, on the and of iron belong and steel workers mated United States. York bankers brokers, of DAVIDSON the & suspended JONES, New on the 24th, owing on the 23d inst., and to a decline in stocks. Conn., successive AT Hartford, the fastest three and 2:133.4 Rarus trotted 2:15, 2:13 1/2 purse heats ever made- of the trial averaged were 2:18 The conditions if the three heats 2:14 beaten. under, $1,500 and $500 Montague, extra if the actor, leaves THE will of to mother. M. c. all his on the one of Reed's overmade AT Erie, property horse Pa, Midnight on trotted 22d instant, mile the track one the fastest miles a skip, going in 1:11% He trotted in 36 without seconds, to the half has quarter the mile in 2:23 1/2 Williamsport, Pa. appointed and B.S. BENTLEY, judge of of the Lackawana district been liabilities by Gov. Hantrant of John F. who Trow, failed publisher some THE York directory, assets $41,000. actor the New $217,000; the time of ago, are H. J. Montague, while on wood THE died remain in California were recently, buried in Greenwho the 21st. tour with cemetery, his troupe, New York, on 6 THE WEST. shot, BOGARDUS, champion ball shooting wing a CAPT. exhibition of glass Ohio, on the 27th, 5 27 gavenn grounds in balls Dayton, in 27 minutes, misses. the fair breaking 375 This is the best shooting , Mon f making that time on record. bank, Helena, It is said e closed its doors will lose nothing if is in tana, THE PEOPLE'S depositors National assessment. 27th. the THE that the pay up their Gallipolis railway of the stockholders Columbu and court at Columbus, purchased sold by order The property was Ohio and e d comn Columby on the corporation Virginia 26th. Railway known $38,800. Company, as the The new that be e le ing the West bidder, to for build the road from III., 1pany bus to expects Gailipolis. LELAND, of Chicago, Secured 1debts $108,000; n has GRAHAM filed a petition A. unsecured in bankruptcy. $47,000. No as citizen prominent y y THE of San trouble Francisco, between the shoemakers sets. WILLIAM D. MORRIS, Cal., died a on the 24th. and


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 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 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, December 18, 1879

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CASH PAID For XXX WHEAT AT THE UNION MILLS. 5-31 GEO. N. LEWIS. HELENA LETTER. MELENA, MONT., Dec. 14, 1879. O. J. Salisbury has gone to Deadwood. Freight trains from everywhere were thicker than hops last week. The County Commissioners terminated a nine day's session on Wednesday. A sprinkling of snow last night and a prospect of much more very soon. Fox's trial No. 2 proceeds slowly, but will doubtless be finished up before Court adjourns on the 24th. Ladies of the various churches are busily engaged in preparing pretty things for the Christmas trees. A fair for the benefit of the Episcopal church commences Tuesday night and continues one week. Several loads of flour were spilled into Prickly Pear creek while passing through the canyon last week. Four chimneys burned out Wednesday morning. The season for the Fire Fiends' carnivals is approaching. A $100 doll embellishes the window of a Helena notion store. It is 31 feet high, and wears $12 gold earrings. A reunion of soldiers of the Mexican war who live near Helena takes place on January 8th of the coming year. Sealed bids for the People's National Bank building were to be received until last night by Granville Stuart, receiver. The thermometer has got down to a ticklish point several times recently, and ulsters are much more in demand than formerly. The distance from Ogden to Beaver Canyon is 274 miles, and the trip occupies Utah and Northern passenger trains 18 hours and 40 minutes. Fifteen days from the terminus is pretty good time at this season of the year, but I freight which left the Dive on November 25th was unloaded here on the 11th inst. The overland takes out a number of passengers every morning bound for the East, where they can get fresh oysters S without paying $1.50 per quart for them. J. T. Ward, stationer and newsdealer, who has been in business in Helena for C fourteen years, is closing out at auction, with the intention of going into cattleraising. Rev. Jas. Patterson lectured at the Presbyterian church Tuesday evening, giving an abbreviated and not excessively enterR taining account of his meanderings thro'In most parts of the habitable universe. The road through Priest's Pass is completed, and is highly praised by treighters who have been over it. The county fathers have fixed moderate rates of toll, but the public is invited to travel over the new road free of charge for the next thirty days. Pinafore is to be repeated in Helena for the benefit of Mrs. Howey, the lady who superintended the preparation of the morсваи, and did so much toward making it a success. The Helena Pinafore Company is wanted at Butte and Deer Lodge-babies cry for it. The assessed valuation of the property in Helena, five districts on which $69,$13.41 taxes were collected up to Dec. 1, S $1,865,700. When one walks through Helena, and looks into Helena's store, and thinks of the above figures, the conclusion S irresistible that something is rotten in the State of Denmark. Barelay J. Smith and family left Helena on the 9th for Ogden and, presumably, San Francisco. Some people have been ed to look upon Mr. Smith as a martyrs an innocent and inoffensive man cruelly persecuted and maligned by vindictive enemies. Other people entertain a radially different opinion of this new "maryred president," which some inconsistenies in his statements appear to juctify. In n alleged interview, published in the Herld, after Smith's return from his involunary visit East in company with detective Rue, the ex-bank president spoke of his clease from custody in Pennsylvania as he result of a triumphant vindication of is character, leaving him as pure and fur potiess as a lamb. There is now reason two 0 believe that the release followed a comromise by which the claims of one of the rincipal sufferers by Barclay's operations