Western Montana National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 3995
Charter Number: 3995
Start Date: April 8, 1932
Location: Missoula, Montana (46.872, -113.994)

Metadata

Model: gpt-5-mini
Short Digest: 8eb8af19

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Description

Multiple April 1932 newspaper articles describe a run triggered by 'senseless and unfounded rumors' and anonymous phone calls. The bank met every withdrawal; First Bank Stock Corporation placed funds with the Ninth District Federal Reserve to reassure and pay depositors. There is no mention of suspension, receivership, or permanent closure.

Events (2)

1. March 21, 1889 Chartered

Source: historical_nic

2. April 8, 1932 Run

Cause: Rumor Or Misinformation
Cause Details: Senseless and unfounded rumors circulated in Missoula and anonymous telephone calls urged depositors to withdraw funds.
Measures: First Bank Stock Corporation placed sufficient funds with the Ninth District Federal Reserve to pay every depositor in cash; bank paid withdrawals promptly and invited worried depositors to get their money at once.
Newspaper Excerpt: Withdrawals, Prompted by Senseless Rumors, Paid Without Question.
Source: newspapers

Newspaper Articles (6)

1. April 8, 1932 The Daily Missoulian Missoula, MT

Article from The Daily Missoulian, April 8, 1932

Click image to open full size in new tab

Article Text

WESTERN MEETS EVERY Withdrawals, Prompted by Senseless Rumors, Paid Without Question. During Wednesday and Thursday number depositors the WestMontana National bank, one of the oldest financial institutions in the state, visited the bank withdraw accounts, mostly savings. At no time, however, was the staff of the bank embarrassed by the demands cash. Every request was satisfied promptly. The unusual for funds was due senseless and unfounded rumors which had Been heard about the streets outside of Missoula during the last two three days. Knowing that the bank in position meet every obligation no conwas expressed by President Sterling, although he expressed regret that those withdrew their savings had been guided by rumor and gossip some cases believed to have been deliberately malicious. Other patrons of the bank who did not withdraw funds reported that they had received anonymous telephone calls advising such action. While the lines stood the windows, business men came with their deposits and otherwise the business of the bank went on usual. Proffers of assistance came from many sources, but all were declined by President Sterling with appreciation the good will that prompted them. Mr. Sterling said: regret exceedingly that many of our valued customers have been induced by the circulation of founded rumors and malicious statements doubt, the moment, the soundness this bank. "For nearly years this institution has served its territory in WestMontana and has enjoyed high reputation for sound and servative banking: continue maintain and deserve that repu"During all these years the bank has met every demand made upon can, will, meet every future demand. deplore the spreading senseless rumors and resent the malicious, false statements which have been, and are being, circulated, but both powerless to affect the bank; unfortunate that the results fall upon the community the business life Missoula. is matter of deep regret to us that some of our customers lent ear gossip and falsehood, but let be assured that they will upon demand the funds to which they are entitled. the Western position Montana National bank of Missoula

2. April 9, 1932 The Independent-Record Helena, MT

Article from The Independent-Record, April 9, 1932

Click image to open full size in new tab

Article Text

BANK IN MISSOULA ANSWERS RUMORS BY OFFERING TO PAY EVERY DOLLAR UPON DEPOSIT Missoula. April First Bank Stock corporation stepped into Missoula through its affiliate. the Western Montana National bank, and spiked foolish and unfounded rumors regarding the stability of that institution in manner that sets a precedent for banking practice in America leaves mark for banking institutions all over the country to shoot at. It placed with the ninth district Federal Reserve bank sufficient funds to pay overy depositor of the Western Montana National in cash and invited any depositors who entertain fears for the safety of the bank to get their money at once. Able to Meet Every Demand Along with this announcement the officials of the First Bank Stock corporation joined with the officers of the Western Montana National bank in statement that the Missoula bank 18 able to meet every demand of its depositors out of its own resources. but that it would not consider inconveniencing or deopardizing its commercial and individual borrowers by calling in their loans for this purpose For (Continued on Page 2)

3. April 9, 1932 The Independent-Record Helena, MT

Click image to open full size in new tab

Article Text

BANK IN MISSOULA ANSWERS RUMORS BY OFFERING TO PAY EVERY DOLLAR UPON DEPOSIT April First Bank Stock corporation stepped into Missoula through its affiliate. the Western Montana National bank, and spiked foolish and unfounded rumors regarding the stability of that institution in a manner that sets a precedent for banking practice in America and leaves mark for banking institutions all over the country to shoot at. It placed with the ninth district Federal Reserve bank sufficient funds pay every depositor of the Western Montana National in cash and It invited any depositors who entertain fears for the safety of the bank to get their money at once. Able to Meet Every Demand Along with this announcement the officials of the First Bank Stock corporation joined with the officers of the Western Montana National bank in statement that the Missoula bank is able to meet every demand of its depositors out of its own resources, but that it would not consider inconveniencing or jeopardizing its commercial and individual borrowers by calling in their loans for this purpose. For (Continued OD Page 2)

4. April 13, 1932 Laurel Outlook Laurel, MT

Article from Laurel Outlook, April 13, 1932

Click image to open full size in new tab

Article Text

Bank Run Stopped by Cash Missoula-The First Bank Stock corporation stopped a run on its affiliated bank, the Western Montana National bank of Missoula by placing with the Ninth district federal reserve bank funds to pay every depositor in cash and invited depositors who had fears of the bank's solvency to get their money at once. The First Bank Stock corporation joined with the Western National bank in a statement that the Missoula bank is able to meet every demand of its depositors but it would not consider inconveniencing or jepordizing its commercial and individual borrowers by calling their loans.

5. April 19, 1932 The Billings Gazette Billings, MT

Article from The Billings Gazette, April 19, 1932

Click image to open full size in new tab

Article Text

FEWER BANK FAILURES. The record of bank failures over the last year indicates that the worst was passed during the concluding three months of 1931, and that we are now on a more stabilized basis. The high-water mark for several years was reached in October of last year. During that month 522 banks in the United States closed their doors. Their deposits aggregated $471,380,000. In November and December of 1931 enough more financial institutions suspended to bring the total the deposits involved to During the first half of the opening quarter of this year there were 609 bank failures. During the second half there were but 84. It would be conjectural to estimate that part of the flow of funds from the Reconstruction Finance corporation had to do with restoring confidence, strengthening the position of banks and reducing runs on them. In reviewing the figures, however, it is significant to note that the gratifying decrease in bank suspensions was accelerated as the Reconstruction Finance corporation got under way. President Hoover on January approved the bill authorizing the corporation. Soon thereafter it began to do business. The corporation's report on transactions up to April show that it has extended credit to 935 institutions throughout the country. Of this number, 858 were bank and. trust companies and 30 were building and loan associations. The most loans were made in Iowa, where 91 banks were aided. Illinois is second in this respect, with 81 banks receiving assistance. Fourteen banks in Montana received loans from the corporation to April up The report shows that the corporation, headed by Gen. Charles G. Dawes, extended credit amounting to during February and March. This is slightly more than the two billion dollars authorized by congress. The psychological effect of such large amount of money being available for the revival of business can hardly be overestimated. It gives those in charge of the ordinary channels of finance, commerce and industry assurance that if their funds to operate legitimate and sound concerns are not sufficient, assistance may be depended upon. Recent bank failures in the northwest have been proportionately fewer than in many other sections for number of reasons. One is that we were probably harder hit in the depression of decade ago than most other regions. A large percentage of our weaker institutions were eliminated at that time. Another reason is that the affiliation of many of our larger banks in the First Bank Stock corporation and the Northwestern Bancorporation groups make for stability throughout the northwest. The way then can and will support their members was graphically demonstrated during the recent run the on Western Montana National bank at Missoula. The reduced number of bank failures and the smaller amount of money in hoarding since the Reconstruction Finance corporation has been functioning tend to indicate that it is serving highly useful purpose. In times like these, such marked firming of the financial structure usually form the foundation for an upturn.

6. January 1, 1933 The Daily Missoulian Missoula, MT

Article from The Daily Missoulian, January 1, 1933

Click image to open full size in new tab

Article Text

MARCH. hundred Flathead Indians to have "pay this $64,000. Idle Hour week, team wins title. Lloyd Andrews of Big Timber chosen captain of Grizzly basketball team for next year. 2-Missoula citizens horrified by report of kidnaping of Lindbergh baby. 3-Jimmy Dupuis wins from Eddie Coyle, George Neva knocks out Hissong and Bobby McKay beats Bruce Kelley on Garden City card. 4-Annual "M" club tourney staged at State with one defeated. rules to be changed allow more parking space, bus 6-Mike Vinskey is gashed knife Ovando, condition in hospital here. Will not name Western Montana Fish and Game association holds seventh annual banquet. Delta Gamma and Phi Sigma Kappa winning acts in Varsity Vodvil. applications ceived for camp in July, which may be last one here. Board nounces appropriation University be reduced. 10-Sheriff Sharpe announces that all drives without car licenses will arrested after March 15. Two men hold up Mrs. Delia Waron South Third street, get 12-Missoula Chamber Commerce removes final indebtedness building. Old theater building, modeled and place taken by modstores. early Missoula resident, dies. Many entries ceived for state bowling tournament be held here. Unidentified man found dead in refrigerator car, carbon claims kidnap Lindbergh this state, but authorities scoff. 15-Much building activity here, high school Eagles hall projects. 16-Harry veteran resiof Kalispell home. Eagles hold last meeting old hall. 17-H. Wilkinson, pioneer Missoula man, former dies hospital. Active civic for years. Billy Reeves, old Lincoln school wins county Washington contest. Many izations Patrick's half county face arrest for for licenses. Halfdozen home games uled for next fall. Olsen, dies recovering from sustained explosion his home February Heart believed death. 19-Northern Pacific Engineer Patrick Gallagher Fireman Maurice Stookey killed when mountain near causing derailment. RusSweet, Grizzly star, appointed coach Park junior college in California years in district, dies at Frenchtown. 21-Small turnout expected primary election today. H. Beacom and Ronald Higgins finals Ira Johnston Eric Lindquist race for police commissioner's Light cast. Work on chest here approved, asked continue. Stewart resigns State versity athletic director, to take fect September he announces. here 10 years. Derby pleads guilty attempt Western grocery warehouse, sentenced six months county jail. with four months deducted time in waiting. Spring quarter begins State University. 24-Mrs. Jessie Brown hit by automobile, painfully injured. Smith Jack Murphy in wicked Liberty theater, winning Montitle. Russell, serously burned in tragic fire Cooley street leaves hospital, recovering. Epidemic false alarms reaches eight in one week, firemen protest. Besancon of Missoula honored by state DeMolays. New Mechanics' organization holds first meeting here, choose temporary ficers. quarter enrollment University greater than 1931. Thomas Dunstan dies here, week after wife's death. Had lived here years. APRIL. David Smith, resident for more than 40 years, wife Smith, druggist, cumbs heart attack. Golfers flock to Community Country courses as weather warms. new members of school board for district will elected today. President Clapp abolishes paddling by Bear Paws State University. Duncan MacDonold celebrates 83 years of life. Quinn and chosen for board of school district Layfield being reelected. Milo Flannery awarded judgment for against M. Felton, alleging injuries received and Johnston reelectmayor, police commissioner, respectively, in election. Alltime record 4,385 votes cast. $33,000 pared from budget school district No. board trustees, to balance decreased income school board will receive for equipment to be placed structure are guests of Fort Missoula garrison Army day ercises. Salaries city employes, including slashed per cent, saving to taxpayannually starts run on Western Montana bank, but every demand met promptly and many depositors return Three million dollars placed disposal bank by Federal of of new school first floor poured. Plans State University alumni reunion in June under Gisborne, Gisborne, dug from beneath cave-in of tunnel leading house, uninjured. Thomas high school senior, takes place in national newspaper contest. Charles Weber Elks here. settlers concerned $182,000 for irrigation project, appeal items reinstated. Merhar Ford Smith fight draw battle for state title Eddie Krause easy winnerat Butte, defending welter Jimmy Dupuis knocked out by Dixie Lahood. Arnold chosen chairman board of trustees for school Rock charged with operating dance Sunday Chest for begun all parts Many candidates filing county arrested following fort epidemic of false salary effective May despite protests taxpayers save much. are burned. three seriously, blaze Ernest Lacasse Injured are Mr. Harry, George Sutton, Ennis, Claude Roney Arthur Quinn, latter two firemen. Blaze clothes bathtub. South Side, entering while occupants are Reeves Lincoln school contest and eligible to enter finals. Junior players are Hell Legion banquet and service promise support during footboll team in regulation game between squads shows strength, profor of Mr. and Mrs. Albert Rochkilled near Polson when hits pole. Jack Robinson, with him, injured. chest drive passes half-way Lewandowski coach basketball, Harry Adams, track, University, to replace Stewart 27-High school board prepares economy program save $14,000. Maude Adams and Otis Skinner "Merchant of Venice." 28-Many Missoulians appointed volunteer fire wordens in effort curb forest blazes during coming Burglars get $120 from trunk home Jimmy Stinger. 29-Community chest "mop-up" campaign opens. Emerson Stone chosen head of Missoula alumni of State Pyle, once manager of Billy Kelly Red Grange, stops here. 30-Corvallis captures county trackmeet. MAY. planted on Kiwanis on East street, which rapidly being developed. George Nink wins county high school contest and will represent school at trackmeet time. Guy Stegner resigns coach high school after successful 1924. Sucnamed. parking of cars Higgins and side streets behere again several years parallel parking. End of CommuChest campaign draws near. 3-Judge Bourquin sentences prohibition offenders in rapid free cookschool Liberty. Fausett, 46 years resident Western Montana, drowns Bitter 7-Governor Erickson ousts MonGame view midnight matistaged climax to Community Chest drive. Missoula high school commended by national schoagain lastic contest officers in letter Principal Ketcham. Street motormen stage final annual ball. University wins state track field meet by big majority points. Duncan discharges jury when finds defendants Interscholastic trackmeet here, with more than 100 school teams entered. than students are guests Missoula for Interscholastic city puts on best front. learns with rest world Lindbergh baby killed the night kidnaped. Missoula lead in trackmeet. wins Interscholastic meet big margin, adding climax Guy Stegner's reer coach here. Henry McNally, years state. 15-Betty Ann Polleys, Missoula county high student, winner first place Montana competition. aviatrix, Mrs. Ruth Marie Nelson, fewer than 20 women United Clark III dies in crash plane in Arizona. law reform organization for women formed. nounces will spend year, taking up street car tracks repairing water system. club wins trackmeet, Rotary second, Lyons third. arrested here in sudden five dry ficers. Arrests made following evidence during past few months "undercover" prepare for district convention, University alumni reunion. Dry agents finish up raids more arrests. tribute war veterans Memorial Mrs. Fred Ketch dies here; sister Mrs. Simons. of bicycles here reach epidemic stage, gone month. Barnett individual honors invitation golf tourney. JUNE. Swant, veteran carpenter, dies. Outdoor season opened at courthouse Missoula band. 2-Thirteen seniors are graduated from Loyola high school. New Eagles' hall use, though Major Dana Allen replaces Gonser as commandFort from Sacred Heart academy. Miss Patricia Regan of Missoula chosen queen of junior prom as one of adreunion. alumni attend annual May fete State University. grants 276 degreees. Kain chosen athletic coach at county high replace Guy Stegner. full swing. High school. University talks are delivAlumni reunion officially of Equalization orders per slash in valof grade schools will graduate 240 pupils this week. Henry Forry, Civil war veteran, dies. Missoula Rotana profesond women's service group, given school grants 192 begin vacation. High building expected to be ready August student nurses are graduated from St. Patrick's school nursing. Dealers and public operate in supporting 'dairy campaign. Missoula sends recordbreaking crowd to Kalispell for Veterans' 14-School board of trustees for district budget, cutting from costs. Flag Day Sweet Ted former Grizzly rive here to spend summer Disof bus routes here be tled of those attends farewell dinner for Major Gonser. Juries cost tween $4,000 and $5,000 annually, show arrive for Fort limited 150, though many more seek enter. be last Missoula river need between youngsters and city circuit. title American Lejunior baseball league and 15 youngsters are chosen compete state race. ranch house in Blackfoot valley burns, with loss estimated at $30,000. Origin tery. JULY. to Demoat Chicago remain camp. from three stotes here at Rocky district meet. All entering after today equipped with shovel, axe and bucket. swimming pool opens. Body of Mary Brown, missing days, found river west town. Montana winner Chicago when Roosevelt selected. Mrs. Lida Spaulding here. 3-Burglars break into offices of Continental Texaco companies here, get nothing but postage stamps. 4-Missoula practically deserted motorists the to celebrate Independence 5-No here during Fourth, but Butte youths killed by dynamite cap blast. Body unidentified man found water of river. Packer jured in South Fork district, miles from here, brought hospital by pack-horse and airplane, will 6-House of David bearded baseball players wallop Missoula AllStars. Easley is slain at tourist park of Gerard, former to Geron way Bitter Root, tells many, that Democrats will win election. 8-Polson endangered by fire which Dewey Lumber great blaze controlled, damage set $100,000. gather here for placing feeder lambs North kota and Pharassociation opens twoday meet Indian loses when resorts to biting Arlee following Smith chosen president of the Montana Pharmaceutical as concludes convention, former University its also offices. Contracts let to Birch Construction company pave tracks, that Missoula labor of this district soaks fields. Lightjoice ning Hash, Lolo forest, near WoodM. concludes with 16-C. awarding honors to cadets. Misjunior baseball team loses first of series to Anaconda here, Stoddard, 75, Missouresident for more than years, home. Mrs. Day, passes