11447. National Park Bank (Livingston, MT)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 3605
Charter Number: 3605
Start Date: July 31, 1893
Location: Livingston, Montana (45.662, -110.561)

Metadata

Model: gpt-5-mini
Short Digest: 1684bd8f

Response Measures

Full suspension, Books examined

Description

Bank experienced heavy withdrawals (a run) and suspended on July 31, 1893 citing inability to convert securities and collect accounts. Directors sought a 30-day resumption period; depositors accepted time certificates and the Comptroller allowed reopening. Reopened late September 1893 (resumed Sept 25/allowed Sept 26). Context: 1893 wider financial crisis but articles attribute suspension to withdrawals and liquidity problems.

Events (3)

1. July 31, 1893 Run

Cause: Bank Specific Adverse Info
Cause Details: Steady withdrawals of deposits combined with difficulty converting securities to cash and inability to collect accounts (liquidity strain).
Measures: All money received on deposit Saturday was placed in envelopes and returned; later solicited depositors to accept time certificates (3/6/12 months) to enable resumption.
Newspaper Excerpt: the bank was forced to suspend, owing to the steady withdrawal of deposits, the difficulty of converting securities into cash and the inability to collect outstanding accounts.
Source: newspapers

2. July 31, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Suspension due to steady withdrawals and inability to convert securities/collect accounts; assets reportedly exceeded liabilities but liquidity inadequate.
Newspaper Excerpt: NATIONAL PARK BANK. The Last Bank in Livingston suspends Temporarily. ... the bank was forced to suspend, owing to the steady withdrawal of deposits, the difficulty of converting securities into cash and the inability to collect outstanding accounts.
Source: newspapers

3. September 25, 1893 Reopening

Newspaper Excerpt: The National Park bank at Livingston resumed business on the 25th ult., with $31,000 ON hand in excess of all present liabilities. ... Allowed to Open. ... the National Park Bank of Livingston, Mont., which recently suspended payment, ... have been permitted to reopen their doors for business.
Source: newspapers

Newspaper Articles (7)

1. August 1, 1893 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, August 1, 1893

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NATIONAL PARK BANK. The Last Bank in Livingston suspends Temporarily. Special Dispatch to the standard. LIVINGSTON, July 31. The suspension of the National Park bank this morning leaves Park county without an open banking institution. President E. H. Talcott put forth every possible effort to weather the financial wave. but the bank was forced to suspend, owing to the steady withdrawal of deposits, the difficulty of converting securities into cash and the inability to collect outstanding accounts. All money received on deposit Saturday was placed in envelopes and returned today. The assets greatly exceed the liabil. ities and an effort will be made to resume inside of 30 days.

2. August 4, 1893 The Weekly Tribune Great Falls, MT

Article from The Weekly Tribune, August 4, 1893

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corder and district clerk in the disclerk's office at 10 a. m. today. Robert Vaughn has given a warranty to Charles M. Webster for lots 13 14, block 195, for a nominal considand Webster has given a quitdeed to Ella Vaughn for the same roperty for the same consideration. Robert Vaughn, guardian of his indaughter, has given a bill of sale to harles M. Webster for about 100 cattle under the control of John Ferguliving on Smith river, and branded Webster to hold the same in trust Vaughn's infant daughter. The following mortgages have been reHerbert P. Rolfe and wife to L. Hershfield, $12,500, on blocks 33, 34, 36, 37, lots 3, 4. 5, 6, 7, 8, 9, 10, 11, 12, and 14, blocks 38 and 39 and 42 in lack Eagle Falls addition; H. P. Rolfe Charles C. Proctor. an employe of the eader, chattel mortgage on 10 head of and colts. 50 cattle, mower, rake, owe, hay, etc., $1,800. Owing to the difficulty of disposing of warrants at their face value sevjurors and witnesses who have been ompelled to accept them in payment for services have devised a scheme hereby they believe they can come out even with the county. The plan to hold the warrants until the next x-paying time and then offer them to county in payment of their taxes. this way they will lose nothing, they H. O. Chowen and wife have given a arranty deed to Charles M. Webster. ustee, for lot 11, block 372, lot 11, 448, lot 10, block 446, a fifth to lot 11, section 14. township north, of range 3 east, and a one-half terest to the south half of the northquarter, and to the north half of southeast quarter of section 35. town21 north. of range 2 east: considera$2,000. Drs. Liebig & Co. call attention in large announcement to a gross inthat has been done their firm in through a false and malicious iblication. The standing of this medifirm is undoubted wherever it pracand there is no danger that any portant portion of the public will to their detractors. They are aligned because they advertise their eatment and pay for their advertising. enemies might imitate the examwith profit to themselves and their the district court yesterday Dynos I itt, charged with stealing a watch Barron & Mayer and a bolt of silk Strain Bros.. were found guilty will be sentenced Friday: the case the state against Oscar English, arged with stealing cattle. was disssed on motion of the county attorthe cases against Robert English. a second charge of grand larceny, Peter Morris on a charge of larand against S. J. Merritt on a of grand lareeny as bailee, were ntinued by consent. FRIDAY DAILY. R. Clingan of Belt has made an as(nment. Dr. T. H. Monahan and family will remove to Maiden. Dr. Newman was reported greatly imin health yesterday. is reported that the Chinook Opinwill soon resume publication. The suspended National Park bank Livingston is preparing to resume siness. t The bank of Choteau, Geo. 1. Smith. esident, and Jas. W. Cory. chashier. f its doors yesterday. Supt. Dunn of the Tiger mine has reorders to shut down all work. is a result of the suspension of the rehants' National bank. Miss Ethel Rawson has notified the ( board that she will accept the poof assistant high school principal salary of $90 per m onth. gentlemen just in from Riceville that there are probably tifty Nei 1 miners encamped in the hills near place. They are living on fish and mostly, with a littleflour and other cessities that they procure from

3. August 21, 1893 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, August 21, 1893

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Net indebtedness $126,734 88 IN PARK COUNTY. Livingston's Troubles Began With a Bank Cashier's Raseality Staff Correspondence of the Standard. LIVINGSTON, Aug. 18.-A serious finan. eial misfortune, not in any sense due to the effects of the general erisis, was suffered by Livingston some weeks ago through the defaleation of absconding Cashier George A. Carey of the Livingston National bank. by whose raseality the town suffered a loss of upwards of $100,000. The effect of this was widespread through the community, and was deeply depressing. Confidence in the other banks was not shaken by the occurrence, however, and it is believed that neither of the other two finanetal institutions would have suse pended except for the action taken by the directors of the Gallatin Valley National at Bozeman. The closing of that bank, which was looked upon as the strongest in the eastern part of the state, was a serious blow, and the adverse tide which at once set in could not be stemmed and the Merchants' National suspended. closely followed by the National Park. It is known that the latter will reopen by the 10th of September, and it is probable that the Merchants' will have its affairs adjusted so as to quickly follow. A considerable volume of business in Livingston has always been realized from [Continued on the Eighth Page].

4. August 22, 1893 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, August 22, 1893

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MAY SOON RESUME. Arrangements Progressing for Reepening the National Park Bank. Special Dispatch to the Standard. LIVINGSTON. Aug. 21.-President E. H. Talcott of the National Park bank. returned from Washington yesterday. He showed the comptroller of the currency the solvent condition of the bank at the time of suspension. and was granted 30 days from August 9 in which to resume. the resumption being then contingent upon a satisfactory report from the examiner. The bank has $210,000 of deposits, and an effort is now being successfully made to induce the demand depositors to accept time certificates, payable in three, six and twelve months, in amounts of 25, 35 and 50 per cent. respectively. Already depositors having open deposits of $115,000 have accepted the time certificates upon the above conditions, and, as soon as the amount reaches$200,000,ComptrolierEckles will order the bank to resume. Depositors are lending every assistance possible and rapidly responding to the bank's request to accept time certificates. It is confidently asserted by President Talcott, Examiner Mercer and others, that the bank will be in a position to resume within the 30 days limit, which would be on or before September 9.

5. September 26, 1893 Evening Star Washington, DC

Article from Evening Star, September 26, 1893

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Allowed to Open. The First National Bank of Hawarden, Iowa, and the National Park Bank of Livingston, Mont., which recently suspended payment, having fully complied with the conditions imposed by the controller of the currency and their capital stock being unimpaired, have been permitted to reopen their doors for business.

6. October 5, 1893 Fergus County Argus Lewistown, MT

Article from Fergus County Argus, October 5, 1893

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editor. MONTANA NEWS. On Sunday last the Northern Pacific company placed an additional passenger train in service between St. Paul and Portland. The shaft house'of the Iron Mask mine, near Townsend, was burned Wednesday of last week, being a total loss of machinery; fully covered by insurance. The line of the Rocky Mountain Bell Telephone completed to Bozeman, and now the Bozeman young man can talk over the wire to his best girl in Helena. The Great Falls opera house, which has been closed for several months, will reopen shortly under the management of John Maguire of Butte, his lease covering July, 1894. A. J. Davidson's warehouse at Helena, which was filled with buggies and farming implements, was destroyed by fire on Monday of last week. Loss between $7,000 and $8,000. Montana, Marcus Daly's famous horse, came in last Tuesday along with some new English mares and colts. Montana's racing days are over and he will go in the stud.-Bitter Root Times. Mrs. Matt Alderson is now engaged in writing sketches of representative pioneer women, for publication in the Courier, says the Bozeman Chronicle. The lives of these ladies make very interesting reading, especially in the hands of Mrs. Alderson. The highest price paid for Montana eattle this season has been realized by the Standard Cattle company of Fort Benton, who sold 53 head averaging 1,390 pounds, at $4.35. The bulk of the sales ranged from $2.80 to $3.50. The National Park bank at Livingston resumed business on the 25th ult., with $31,000 ON hand in excess of all present liabilities. At the close of business for the day, the deposits had exceeded the day's withdrawals nearly $14,000. M. A. Meyendorff, for seventeen years melter of the United States assay office at Helena, has been removed by President Cleveland. The notification which came Saturday last is dated September 15. No successor has yet been named. On Monday, the 25th ult., Judge E. B. Waterbury, an old and respected resident of Anaconda died suddenly at the home of his son in that city. Judge Waterbury was a Montana pioneer and had experienced the mining excitement in Alder gulch and other places. Manager Kinkel of the Manhattan farm has forwarded by express a large amount of barley in the sheaf to W. H. Sutherlin, in charge of the Montana agricultural exhibit at the fair. This grain will be made into an artistic bower and will add to the beauty of the Montana exhibit. The flouring mills at Columbia Falls and Kalispeli have suspended operations and there is no market for grain, though crops are reported to be abundant throughout the Flathead valley. Lumbering operations have also ceased, and the outlook for the winter is not flattering. John Leary, a wealthy cattle owner and a pioneer of the Flathead valley, died the 22d ult. of heart disease. He was over 60 years of age and had prospected all over Montana, locating in the Flathead valley thirteen years ago. He was a stockholder and director of the Conrad National bank and owner of a large amount of land and cattle. Mrs. M. E. Cowley committed suicide in Butte the 25th ult., by shooting herself in the left breast near the heart. She was from Toga, Pa., and was married to Alex. Hamilton there. She either left her husband or was divorced and joined fortunes with Cowley and came to Butte. Cowley was brutal and beat her so frequently that she left him. The woman's former husband, three sons and two daughters are living at Meacham, Pa. John Wilson, Horst Reeman and James Morgan, three horse thieves, were brought into Billings on Monday of last week charged with stealing horses of Wilkerson, Mains & Renwick. They were captured in Wyoming, and fearing summary justice there, waived requisition and returned voluntarily with the officers. They were arraigned the same day. waived every for-

7. September 5, 1899 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, September 5, 1899

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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.