12. First National Bank (Fairbanks, AK)

View Charter #7718 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
7718
Charter Number
7718
Start Date
January 6, 1911
Location
Fairbanks, Alaska (64.838, -147.716)

Metadata

Model
gpt-5-mini
Short Digest
9e455ef20c4e0c6b

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple articles (Jan 1911) report the First National Bank of Fairbanks was 'prepared for a run' and experienced a slight attack by depositors after the Washington-Alaska Bank suspended. The First National displayed its gold reserves and business ran smoothly; there is no mention that the First National suspended or closed. Dates around Jan 5–7, 1911. OCR corrected minor spacing errors in quoted snippets.

Events (2)
1. May 2, 1905 Chartered
Source
historical_nic
2. January 6, 1911 Run
Cause
Local Banks
Cause Details
Run was triggered by the suspension of the Washington-Alaska (Washington National) bank, which worried depositors and led to withdrawals at other Fairbanks banks.
Measures
Displayed gold resources on hand to reassure depositors; continued normal business operations.
Newspaper Excerpt
The First National and American banks were prepared today for a run ... the display of gold resources on hand reassuring the depositors
Source
newspapers

Newspaper Articles (7)
1. January 7, 1911 Arizona Republican Phoenix, AZ
Article from Arizona Republican, January 7, 1911

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Article Text

TWO ALASKAN BANKS PREPARED FOR A RUN A Feared Consequence of a Fairbanks Institution. Fairbanks Alaska Jan 6 The First National and American banks were prepared today for a run as result of the suspension of the Washington-Alaska bank but the course of business ran smoothly the display of gold resources on hand reassuring the depositors The depositors of the closed bank held a mass meeting last night and passed a resolution asking the federal court to appoint E H Mack. former ly clerk of that court. co-receiver with F W Hawkins, formerly cashier and acting manager of the bank now in charge of that institution as receiver Hawkins said today that there was no likelihood of the bank reopening The United States court today or dered the receiver to refund Tuesday's deposits amounting to $27,000 which were accepted when the suspension of the bank was impending Receiver Hawkins states that the assets of the Washington Alaska bank are $1,000,000 including $341,000 of Gold Bar Lumber company stock now in the Dexter-Horton National bank of Seattle cash on hand. $75,000; loans and discounts $610,000; realty and personal mining property $50,000 The liabilities are $900,000 \ majority of the depositors are working men, miners and clerks.

2. January 7, 1911 Bisbee Daily Review Bisbee, AZ
Article from Bisbee Daily Review, January 7, 1911

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Article Text

DISPLAY OF GOLD PREVENTS BANK RUN FAIRBANKS, Alaska, Jan. 6.-The First National and American banks were prepared for a run as the result of the suspension of the Washington-Alaska bank, but the course of business ran smoothly and the display of gold resources on hand was reassuring to depositors. The depositors of the closed bank held a mass meeting last night and passed a resolution asking the federal court to appoint E. H. Mack, formerly clerk of the court, co-receiver with F. W. Hawkins, formerly cashier and acting manager of the bank, now in charge of the institution as receiver. Hawkins said today there was no likelihood of the bank reopening. The United States court today ordered the receiver to refund Tuesday's deposits amounting to $27,000, which were accepted when suspension of the bank was impendIng. Receiver Hawkins states the assets of the Washington-Alaska bank amout to $1,000,000, in cluding $341,000 of Gold Bar Lumber company stock now in the Dexter-Horton National bank of Seattle; cash on hand $75,000; loans and discounts $610,000; realty and personal mining property, $50,000. Liabilities $900,000. The majority of depositors are working men, miners and clerks.

3. January 15, 1911 Iditarod Pioneer Iditarod, AK
Article from Iditarod Pioneer, January 15, 1911

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Article Text

Fairbanks, Jan. 5-Following a suspension of pay ments yesterday by the Washington-Alaska bank, recently consolidated with the Fairbanks Banking mpany an attachment was sued out by Jack Robarts, a depositor, and the institution was thrown into the hands of a receiver. Assuming charge of affairs as a court of equity, Judge Overfield appointed Frank Hawkins receiver and a gradual adjustment of the affairs of the bank will be bad. There are deposits to the amount of a million dollars, and the bank appears to be in bad shape, at least for the time be. ing. Business has received a severe check, but the First National and the American Bank of Alaska are bearing up under a slight attack by depositors and further trouble is not anticipated.

4. December 23, 1912 The Alaska Citizen Fairbanks, AK
Article from The Alaska Citizen, December 23, 1912

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Article Text

BARNETTE BANK CASES BEING TRIED AT VALDEZ MANY BAD NOTES. tions of the court took up the enVALDEZ, Dec. 16.-The Barnettetire morning. At noon the case went Wing case goes to the jury to-day. to the jury. and six hours later the and the result is only a guess. Most verdicts of guilty and not guilty. of the witnesses for the prosecution respectively. were reported. have gone over to Barnette. only When the verdict was announced R. C. Wood and J. L. Sale standing the attorneys for the defendants pat. which further queers the outmoved that the sentence be not prolook for the prosecution. nounced for several days. to which John Clark testified that he had there was no objection offered by certified to the bank statement on the government. It is presumed that Barnette will ask for a new trial. September 23, dating the same September 10 and that he had failed The conviction of the ex-banker to swear the defendant as the nois attributed by the government at tary's signature signified that he torneys to the testimony of J. 1. had. R. A. Jackson. John A. Clark. Sale. the Fairbanks jeweler; R. C. John 1.. McGinn and Frank Hawkins Wood. president of the First Nation testified that the notes of Tharp al-bank: and F. G. Noyes, receiver of the bank which Barnette is ac& Rusk, e E. Claypool. Dan Jonas John Flygar, Charles Robinson. York cused of wrecking. The testimony of these witnesses was given without and Billy Barnette and others still restraint or effort to protect the unpaid were all perfectly good loans in September. 1910. men on trial. and apparently had A letter was produced which was greater weight with the jury than written to Captain Barnette in 1909. the testimony of either John A Clark or John L. McGinn. advising him to reduce the amount of bad loans which the bank was The crime of making false report, upon which Barnette was convicted. carrying. but Dick Wood testified is a misdemeanor under the statthat only $26,000 of such loans were written off because under its then utes. and is punishable by a maxicondition the bank could stand no mum sentence of one year in jail. more losses in 1909. or by a fine not exceeding $1.000. The trial which was concluded to The testimony shows that C. E. day was the third case against CapClaypool. Jack Jesson nd Dan Jonas tain Barnette. The first case was were directors who accepted the Gold Bar stock's increase in valuatried before Judge Lyons without 1 jury. and resulted in a verdict of ion. and also accepted the worthless not guilty. B. R. Dusenbury was a notes as good paper, and that Clayco-defendant with Barnette, the ool and Jonas always did and still owe the defunct bank. charge being false report. The men were acquitted on the testimony of LATER-Special Prosecutor GibJohn L. McGinn. son opened his argument before the The second case was one of perjury this morning. He went into the dealings of the bank before and jury against Barnette and Wing, at the time of its closing in Decemand the two men were acquitted in this instance on the testimony of ber. 1908. He read a letter written John A. Clark, who declared under by R. C. Wood to Barnette and Hill oath that neither of the bankers relative to the reorganization, and had sworn to the false report which showed that Wood at that time had he had made out for them. The verprotested against the conspiracy to unload the Gold Bar stock upon the dict of the jury was instructed. The names of the jurors who tried bank; that the assets of the bank both the perjury and the false re(the Gold Bar Stock) were raised port cases are as follows: Thomas 95,000 in value at that time to save Stamey, Ed Austin, Elliott Steward the bank, which was then insolvent A. M. Baake, Charles Whalen, Allen " $41,000. had not the Gold Bar Johnson, A Bell. H. S. Coleman. C. stock valuation been raised to cover the shortage. Hubbard. James McConnell, A. P. Hunt and P. G. Cameron. FINK JUGGLED NOTES. EMBEZZLEMENT CASE ON. VALDEZ, Dec. 17.-The third case VALDEZ, Dec. 18. - The selection against Barnette and associates of a jury for the trial of Captain went to the jury at noon. after the E. T. Barnette took up the whole of close of Crossley's argument. The the time of the court today. and at jury went to dinner, and retired at the close of the afternoon session 1:55 p. m., to consider the case. but two had been accepted. Judge The arguments before the jury. in which Attorneys Gibson. Fink. Lyons has issued a call for a special venire, returnable tomorrow mornCrossley and Tozier participated, OCing. cupied nine hours' time. A sensationThe indictment on which Barnette al feature of the argument was is being tried charges that, as presFink's production and presentation ident of the bank. he embezzled the to the jury of six notes in exhibit which had been entered by the prossum of $10,003.30 on April 15. 1910, ecution as overdue and worthless by drawing out of the bank money which he claimed to be his own. at paper at the time the bank was a time when he knew that the bank reorganized, and which it was alwas insolvent. leged by the bank were used to esSimilar indictments charge him tablish a fictitious capital, and with the embezzlement of $10,000 on which notes Fink showed had been made on dates after the date of the April 19. 1910; $10,004.95 on May 5, 1910. and $50,000 on June 6. statement upon which the indict1910. It is probable that these inment was procured. or after the dictments will be consolidated for statement had been prepared and trial with the first one mentioned. sworn to-in one case, three months later. Albert Fink will. in all probability be Barnette's counsel in these cases In reply, Crossley intimated that THE JURY COMPLETE. Fink had at least juggled with VALDEZ, Dec. 20. - The jury to those notes. BARNETTE FOUND GUILTY. try the case of E. T. Barnette upon the embezzlement charges was comVALDEZ, Dec. 17. The trial of pleted last evening. When court opCaptain E. T. Barnette and Lew Wing. on the charge of falsely ened this morning Attorney Fink started his argument for dismissal reporting the condition of the bank of the cases or for an instructed of which they were officers, came verdict of "Not Guilty." He argued to an end this afternoon at 6 o'clock. the point until 20 minutes to noon. when the jury returned a verdict of when District Attorney Crossley guilty against Barnette. and a verstarted in argument against Fink's diet of not guilty in the case of Wing. proposal. Crossley will probably occupy all the afternoon with this The closing argument of District Attorney Crossley and the instrucarguments as to why the case should

5. October 20, 1913 The Daily Alaskan Skagway, AK
Article from The Daily Alaskan, October 20, 1913

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RAINE, RAK AND RIDER SAIL SOUTH SIMULTANEOUSLY Among the Northerners arriving in Skagway last evening bound for the south are Edgar C. Raine, internal revenue inspector for Alaska, O. L. Rider, who has been acting receiver for the Washington National Bank at Fairbanks, and comes from Virista, Oklahoma, and Charles L. Rak, of Tanana Probably not the least important of this trio is Mr. Raine, through whose poetic pen Kotzebueu sound has been fixed forever in the minds of a great many Cheechacoes. The poem was written under the most trying circumstances, the which are graphically set forth in the verses, and it is only fair to predict that the conditions as well as the thought, so vividly portrayed, will live long after the apthor has gone to final rest.

6. April 6, 1921 The Alaska Daily Empire Juneau, AK
Article from The Alaska Daily Empire, April 6, 1921

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# PASSENGERS ON THE NORTHWESTERN A. Witting, with the Pure Sea Foods cannery at Cordova, accompanied by his wife, is a passenger on the Northwestern. W. Heitman, of the Geological Survey, is a passenger on the Northwestern going to Anchorage. Pat Tammany, foreman on the Copper River and Northwestern railroad, accompanied by his wife, is aboard the Northwestern on his way to Cordova. Vale Carlson, on his way to the Shushanna district, is a passenger on the Northwestern for Cordova. Frank and Tom Walsh, enroute to the Iditarod section, are passengers on the Northwestern. F. Brassius, who has a rock contract on the Government railroad, is on the Northwestern going to Broad Pass. Frank Cunnnigham, purser on a Yukon river steamer, is on the Northwestern for Seward enroute to the Interior. J. Pettit, Yukon river steamer pilot, is a pasenger on the Northwestern going to Fairbanks. D. Dunbolten, Interior trader, is going to McGrath, being a pasenger on the Northwestern for Seward. Mrs. L. Hegg, formerly of Anchorage, is reurning there to be employed in Logeman's photo studio. D. J. McKenzie, with the Government railroad, accompanied by his wife, is aboard the Northwestern enroute to Anchorage. Capt. Boemer, of Hot Sprnigs, is on the Northwestern on his way to the Interior, after having spent the winter in the States. Capt. Bergman, of the Government steamer Jeff Davis, on the Yukon, is a passenger on the Northwestern. Andy Strom, returning from Seattle to his home at Nenana, is on the Northwestern. F. G. Noyes, receiver of the Washington National Bank at Fairbanks, accompanied by his wife, visited friends while the Northwestern was in port last night. Mrs. M. Bishop, who opened the first store at Nenana, the building now being occupied by the Terminal Hotel, is on the Northwestern. Mrs. J. L. Dikes, wife of Lieut. Dikes of Fort Liscum, is a passenger on the Northwestern for Valdez, after a visit in Seattle. Mrs. T. G. Quinn, wife of a well known pioneer who recently died at Valdez, is going westward on the Northwestern. Martin Rectflu, foreman of the San Juan cannery at Seward, is a passenger on the Northwestern. J. McCann, captain of the Yukon river steamer Alaska, is a passenger on the Northwestern going to Seward enroute to the Interior. R. Kern, one of the engineers on a Yukon river steamer, is bound for

7. March 10, 1923 The Cordova Daily Times Cordova, AK
Article from The Cordova Daily Times, March 10, 1923

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ALASKA WOMAN SEEKS RECOVER LARGE SUM Demands Account From Bank Receiver of Fairbanks LARGE SUM IS EXPENDED Collector Holds Funds Alleged Belong To Woman SAN FRANCISCO, March 10.-Mrs. Isabel Barnett, said to have been the first woman who landed at Fairbanks and from whom Isabel Pass is named, has instituted a suit against Fred G. Noyes, receiver for the Washington National Bank at Fairbanks, calling for an accounting of funds expended by him for the collection of money belonging to Mrs. Barnett. Mrs. Barnett was yesterday given an order by Judge Frank B. Dietrich, of the Federal Court, demanding that Noyes show what amounts are comprised in the sum of $47,000 which, he asserts, he has expended in the collection of $58,301 which he is now holding in a San Francisco bank, and recovery of which Mrs. Barnett is seeking.