State National Bank - Miles City, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5015
Charter Number: 5015
Start Date: January 12, 1901
Location: Miles City, Montana (46.408, -105.841)

Metadata

Model: gpt-5-mini
Short Digest: 84a9fd0d

Response Measures

None

Description

Article describes the Miles City State National Bank failure and criminal prosecution for alleged frauds by Aaron Herschfield. No run or depositor panic is mentioned in the excerpt; the bank is referred to as failed and a receiver/testimony is present, implying suspension and closure with receivership due to bank-specific fraud.

Events (2)

1. January 12, 1901 Receivership

Newspaper Excerpt: He identified items of $5500 and $5000 which Herschfield is charged with transferring ... then the attorney for the ... (receiver of the Merchants National bank, who was national bank examiner at the time of the alleged frauds in the State National bank of Miles City).
Source: newspapers

2. January 12, 1901 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged transfers/frauds by Aaron Herschfield moving funds between his account and the State National; prosecution and examiner testimony identified questionable items totaling $5,500 and $5,000.
Newspaper Excerpt: CELEBRATED CASE OF MILES CITY BANK FAILURE IN COURT AT HELENA.
Source: newspapers

Newspaper Articles (1)

1. January 12, 1901 Daily Inter Mountain Butte, MT

Article from Daily Inter Mountain, January 12, 1901

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Article Text

# HERSCHFIELD CELEBRATED CASE OF MILES CITY BANK FAILURE IN COURT AT HELENA. Special to Inter Mountain. Helena, Jan. 12.-The prosecution in the case of Aaron Herschfield closed in the United States court this morning with the expert testimony of Eugene Wilson, receiver of the Merchants National bank, who was national bank examiner at the time of the alleged frauds in the State National bank of Miles City. He identified items of $5500 and $5000 which Herschfield is charged with transferring from his own account to that of the State National in the National Bank of the Republic at Chicago, and the First National bank of Minneapolis. Then the attorney for the