gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
02223eccc5e7a8cc
Response Measures
None
Receivership Details
Depositor recovery rate
77.7%
Date receivership started
1926-01-16
Date receivership terminated
1935-12-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
71.4%
Share of assets assessed as doubtful
11.4%
Share of assets assessed as worthless
17.2%
Description
Closed by federal examiners Dec. 17–18, 1925; later placed in receivership (receiver active by 1926).
Events (4)
1.August 29, 1922Chartered
Source
historical_nic
2.December 17, 1925Suspension
Cause
Government Action
Cause Details
Closed by federal/state examiners after inability to meet liabilities; impairment of capital and frozen livestock (cattle) loans cited as underlying reasons.
Newspaper Excerpt
Two Denver banks, the Drovers National Bank and the Broadway National Bank, closed their doors at noon today and are in the hands of federal examiners.
Source
newspapers
3.January 16, 1926Receivership
Source
historical_nic
4.October 14, 1926Receivership
Newspaper Excerpt
George Stahl, receiver for the Broadway National bank of Denver, was called to the stand by the defense.
Source
newspapers
Newspaper Articles (12)
1.December 17, 1925The Hanford SentinelHanford, CA
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Article Text
EXAMINERS CLOSE TWO BANKS
Denver, Dec. 17. (United Press.) Two Denver banks. the Drovers National Bank and the Broadway National Bank, closed their doors at noon today and are in the hands of federal The examiners who ordered the banks closed have made no statement or crowd of several hundred stood in the street in front of the Broadway bank at o'clock waiting for some information concerning the the institution The Broadway National had deposits of over $3,000,000 according to the published statement. The Drovers had deposits approximately Excitement was high the stock yards, where the Drovers located. Many passed by the bank but paused only to read the sign on the door which said the bank had been closed by the board of directors and was in the hands of federal examiners. heavy run started this afternoon on the North Denver Bank, another of the Hollis banks. Between three and four hundred persons were crowding about the teller's cage and in the street shortly before closing time. Payments had not been stopped
2.December 18, 1925Alameda Times StarAlameda, CA
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Article Text
FACE CRITICAL
Five Institutions Closed and Depositors Besiege Other Financial Concerns
United Press DENVER Dec. banks closed their doors in Denver days. Metropolitan State Bank today failed open its doors. Yesterday the Drovers' National, Broadway National and the North Denver State Bank all were placed the hands of federal and state examiners. James E. Adams. president of the Bank, said day that the bank had been turnto state examiners at his request. Metropolitan several weeks ago, to Adams, had posits of and since that they have been reduced to about view of the bad banking situation here and to protect interests our depositors, he said, deemed advisable turn the bank over to state offiheavy run developed this morning when the Central SavBank and Trust Company opened doors. was estimated that 500 persons waiting in the street in front of the bank Police were in charge of the crowd and only few were let into the bank at time. Rumors were afloat all over town and serious situation was developing with withdrawals creasing many banks. The Capitoi Hill State Bank put in the hands of state examiners shortly after opening this morning when crowd found waiting withdraw their accounts. This banks with closed doors. The Capitol Hill State Bank small suburWhen the 500 persons milling about front the Central Savings Bank and Trust Company this morning. Bishop Frank Rice of the Liberal Church made his way the teller's window and deposited $100 church. Proceeding to the street. Bishop Rice made speech telling the crowd to be calm and that there need of fear. Fifty people with the bishop.
People's Bank here failto open its doors today The closing of the Bank of Iowa, few days ago, believed to have heavy withdrawals from local bank. Deposits totalled
3.December 18, 1925The Daily ReportOntario, CA
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Article Text
3RD DENVER BANK Rough Dip ORDERED CLOSED Bishop's 1-1b. Box Christmas Special
Frozen Cattle Paper is Cause for 2 Closings Says Bank President
DENVER, Colo.-Four banks have closed their doors in Denver within two days. The Metropolitan State bank today failed to open its doors. Yesterday the Drovers National, Broadway National and the North Denver State bank all were placed in the hands of federal and state examiners.
DENVED. Colo. With Christmas shopping at its height, three Dates-Bulk Denver banks were today in the 2 pounds 25c hands of bank examiners. The Drovers National bank and Plums-Preserves the Broadway National bank were closed at noon yesterday when It was found they could not meet their liabilities. The North Denver State bank Nutola was, closed last night at the request of the officers of the instiFirst Grade Oleo tution after a heavy run during the afternoon. Made by Armour & Co. Although no statement has been SPECIAL SATURDAY issued by Gordon Hollis, president of two of the closed banks, he replied affirmatively to questions 25c that frozen paper on cattle loans was a cause of his two banks closing.
TWO MORE BANKS CLOSE Epidemic of Financial Disaster In Denver - Four Institutions Now Have Closed Doors. Denver. Colo., Dec. 18 (AP) -Two additional Denver banks-the Capitol Hill State bank and the Metropolitan State bank-failed to open today. Two National banks and one state bank were closed yesterday. Grant McFerson, state bank commissioner announced that examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week and a run on the Capitol Hill yesterday were instrumental in the closing, officials said. The banks closed yesterday were the Broadway National, the Drovers National and the North Denver bank, the latter a state institution. These banks had deposits of about $3,500,000. The Broadway National was the largest with deposits of about $2,500,000. Impairment of capital and frozen paper in livestock loans were ascribed as the reason for the closing of the two National banks. Gordon Hollis was president of the two National banks and his wife, Mrs. M. E. Hollis, was president of the North River bank.
5.December 18, 1925The Bismarck TribuneBismarck, Mandan, ND
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Article Text
McFerson announced that his department's examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week, and a run on the Capitol Hill yesterday. were factors in the>closing, officials said. The banks closed yesterday were the Broadway National, the Drover's National, and the North Denver bank, the latter a state institution. These three banks had deposits of approximately $3,500,000. The Broadway National was the largest, with deposits totaling about $2,500,000. - Impairment of capital and frozen paper in livestock loans were ascribed as the reasons for the closing of the two national banks.
6.December 18, 1925The CalifornianSalinas, CA
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Article Text
THREE DENVER BANKS COMPELLED TO CLOSE
With Christmas shopping at its height three Denver banks were today in the hands of bank examiners.
The Drovers' National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon.
7.December 18, 1925Visalia Daily TimesVisalia, CA
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Article Text
CHRISTMAS BUSINESS A STANDSTILL
Police Called to Preserve Order When Run Is Started on Bank
(United Press Leased Wire) Dec. local bankers and financiers were today to devise some means to bring an end to the sitnation here that has caused the closing of five banks within two days. hundreds of depositors exchanged rumors and discussed their Christmas outlook with their money tied up the closed institutions. The series of bank closings startyesterday when the Drovers National bank, the Broadway National bank and the North Denver State bank closed their doors. Today the Metropolitan State and the Capitol Hill State banks failed open. The Central Savings bank and Trust company took advantage of law making give sixty days' notice before their The total amount of deposits tied in the five banks which have closed approximates The greatest prevailed here today that has been seen for years. Business height the shopping season felt sharply the financial condition. Many persons could not get their money refused to spend. In front of the Central Savings Trust company, where 500 pergathered. there was much excitement and police were called to believed that the small banks in the city will before the day closes take advantage of the sixty day law. According to the officials of all but two national banks that closed yesterday, there is no cause for alarm as the banks were placed the hands of examiners to prodepositors. So many rumors were afloat throughout the morning that was impossible to check half of them. Employes in and laborers (Continued on Page Three)
8.December 18, 1925News-PilotSan Pedro, CA
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Article Text
Frozen Loans Force Closing of Three Banks in Denver
(By United Press) DENVER. Colo., Dec. Christmas shopping at its height, three Denver banks were today hands of bank examiners. The Drovers National Bank and the Broadway National Bank closed noon yesterday when found they could not meet their liabilities. The North DenState Bank closed last night the request of the offiof the institution after heavy during the afternoon. Although statement has been issued by Gordon Hollis, president of the closed banks, replied questions that frozen paper cattle loans cause his two banks closing.
9.December 18, 1925York News-TimesYork, NE
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Article Text
Three Denver Banks in Examiners' Hands
DENVER Colo., Dec. 18.-(UP) With Christmas shopping at its height, three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the af-
Although no statement had been issued by Gordon Hollis, president of the two closed national banks, he replied to, questions that frozen loans on cattle were a cause of their closing.
10.December 18, 1925Daily American RepublicPoplar Bluff, MO
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Article Text
FIVE DENVER BANKS CLOSED
Ey United Press DENVER. Colo., Dec. five local banks closed and in the hands of bank examiners. all Denver nervously awaited the next move in firencial circles today. The Capitol Hill State Bank was put into the kinds of receivers this afternoon after the Metropolitan State Bank failed to open its doors. Yesterday. the Drovers' National. The Broadway National and the North Denver State Banks were placed in the hands of federal and state examiners. Frozen credits and the depression in the live stock industry were jointly blamed for the closing of the Institutions whose deposits total seven millions of dollars. While the belief was expressed by officials that the banks would open for business as soon as their affairs were straightened out, the depositors about notices of closing and speculated on their chances. Police were in charge of a crowd estimated at more than 500 persons who started on the Central Savings Bank today. Only few depesitors were admitted at'a time. With Christmas shopping at its peak, depositors found themselves unable to do much buying and recalling two previous bank failures in the past two years.
By United Press
DENVER. Colo., Dec. 18.-With Christmas shopping at its height, *hree Denver banks today were in the hands of bank examiners. The National Bank and the Broadway National Bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State Bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon. Although no statement has been issued by Gordon Hollis, president of the two closed National banks, he replied affirmatively to questions that frozen paper cattle loans were the cause of their closing. It was announced today that all business done during the forenoon yesterday was kept separate and that deposits made will be returned in full
11.October 15, 1926Douglas Daily DispatchDouglas, AZ
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TECHNICAL TESTIMONY TAKES UP DAY IN TRIAL OF COLORADO BANKER COLORADO SPRINGS, Oct. 14.-((A)) -Involved in technical testimony relative to the finances of the Capitol Hill State bank in Denver and the Standard Securities and Investment company was given today in the emfbezzlement action against Walter V. Escher in district court before Judge Arthur Cornforth. Allen Redeker, certified public accountaint, who took the witness stand Wednesday, was questioned until late today. He did the auditing work for the Standard Securities and Investment company from which it is alleged Escher misappropriated funds. Foster Cline, district attorney for the second judicial district, Denver, and S. Harrison White, attorney for the defense, engaged in a legal tilt throughout the day over the introduction of evidence. Redeker was cross examined today by Cline. The exact purpose of Redeker's testimony probably will not be revealed until the attorneys begin their arguments. The case is expected to last until early next week. Shortly before the court was adjourned, George Stahl, receiver for the Broadway National bank of Denver, was called to the stand by the defense. He testified regarding stock of the Capitol Hill bank which Escher had placed in the Broadway bank as collateral for a loan of $8,000. The loan and each share of stock was read in the records, after which attorneys engaged in a dispute regarding the loan. Cline contended the loan was not renewed in that other transactions had occurred between the time it was taken out and the time it was due, and the renewal was on accumulated loans.
12.February 4, 1934Fort Collins ColoradoanFort Collins, CO
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Six Move Here In Shift of Bank Receiver's Office
With the establishing in Fort Collins of headquarters of F. Kokrda. receiver for nine Colorado banks two in Larimer county, an interesting former Denver residents was added to Fort Collins during the past week. Mr. and Mrs. Kokrda have established themselves at 1437 West Mountain avenue, rented the residence at that address. Coming with them from Denver office to make their residence here are Mrs. Dunn, bookkeeper, and Miss Edna Mrs. Dunn accompanied by her husband, disabled war veteran wh oserved as captain with Ráindivision. Mrs. Dunn formerly studied at the Conservatory of Music at the Colorado Agricultural college, and was accompanist for DIAlexander Emalie in his pubHe appearances at that time. She planist of ability, prominent in all musical circles of Fort Collins. The Dunns are located at 431 West Oak street. Miss Backloup, mother lives with has located at the Scott apartments. From life Fort Colline office in the Fort Collins National bank building, Mr. Kokrda will administer the receiverships of nine banks: The Fort Collins National bank. the First National bank of Wellington, the First National bank of Lafay ette, the First National bank of Brighton, the First National bank Yuma, the First National bank of Deetrail, the Limon bank, the Glbe National bank of Denver and the Broadway National bank of Denver. The two latter are bases in which disposition of suits against depositors is being awaited. Ten receiverships been completed by Mr. Kokrda in recent years, of which one was in in Wy. oming and the Colorado.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
