12940. State Bank (Crawford, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 4, 1898
Location
Crawford, Nebraska (42.683, -103.413)

Metadata

Model
gpt-5-mini
Short Digest
79bb8675

Response Measures

None

Description

Multiple contemporary newspapers report the State Bank of Crawford did not open Feb 4–5, 1898 because currency expected from the East did not arrive and the president/cashier were absent; assistant cashier said the bank would pay liabilities in full. A 1934 retrospective local paper (citing Feb 18, 1898 files) notes John P. Jones was appointed receiver, indicating the suspension led to a receivership (permanent closure). Cause classified as correspondent (failure/delay of expected currency).

Events (2)
1. February 4, 1898 Suspension
Cause
Correspondent
Cause Details
Currency expected from the East did not arrive; president/cashier absent, so assistant cashier chose not to open for the day.
Newspaper Excerpt
The State Bank of Crawford did not open its doors this morning ... owing to the absence of Francis C. Grable ... and the fact that the currency which was expected this morning did not arrive from the East, he thought it better not to attempt to run through the day.
Source
newspapers
2. February 18, 1898 Receivership
Newspaper Excerpt
John P. Jones was appointed receiver of the State Bank of Crawford by Judge W. H. Westover this week.
Source
newspapers

Newspaper Articles (11)
1. February 5, 1898 New-York Tribune New York, NY
Article from New-York Tribune, February 5, 1898

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Article Text

GRABLE'S BANK UNOPENED IT 18 AT CRAWFORD NEB. AND CONFIDENCE IN GRABLE 18 FELT THERE Omaha, Feb 4-A special dispatch to The Bee" from Crawford, Neb. says: "The State Bank of Crawford did not open its doors this morning C. J. Grable, the cashier. is in the East. A E Hobson, assistant cashier. will say nothing of the bank further than that owing to the absence of Francis C. Grable its president, coupled with the fact that the currency which was expected this morning did not arrive from the East. he thought It better not to attempt to run through the day Hobson says the bank will pay depositors and all liabilities in full This bank has been conducted on a conservative, safe and paying basis, and It is generally conceded by local creditors that its paper and assets are gilt-edged Its assets are about $40,000. and liabilities. outside of stock about $20.000 There is no excitement Cashier Grable will be here Monday Local depositors express unbounded confidence in Grable and Hobeon, and It is believed that the bank will open as usual within a few days.

2. February 5, 1898 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, February 5, 1898

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Article Text

AFFAIRS OF C. J. GRABLE. Bank Closes Its Doors-Irrigation Company Has Nota Dollar. Omaha, Neb., Feb. 4.-A special to the Bee from Crawford, Neb., says: The state bank of Crawford did not open its doors this morning. C. J. Grable, the cashier, is in the east. A. E. Hobson, the assistant cashier, says that, owing to the absence of Francis C. Grable, its president, and the fact that currency expected this morning did not arrive, he thought it better not to attempt to run through the day. Hobson says that the bank will pay out depositors and all liabilities in full. This bank's assets are about $40,000 and liabilities, outside of stock, about $20,000.

3. February 5, 1898 The News & Observer Raleigh, NC
Article from The News & Observer, February 5, 1898

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Article Text

GRABLE'S BANK CLOSED. Assets About $40,000, Liabilities, Outside of Stock, $20,000. Omaha, Neb., Feb. 4.-A special, to the Bee from Crawford, Neb., says: The State Bank of Crawford did not open it's doors this morning, C. J. Grable, the cashier, is in the East. A. E. Hobson, assistant Cashier will say nothing of the bank further that, owing to the absence of Frances C. Grable, it's president, coupled with the fact that the currency which was expected this morning did not arrive from the East, he thought it better not to attempt to run through the day. Hobson saye the bank will pay depositors and all liabilities in full. The bank's assets are about $40,000 and liabilities outside of stock about $20,000. There is no excitement. Cashier Grable will be here Monday.

4. February 5, 1898 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, February 5, 1898

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Article Text

Grable's Bank Closes. Crawford, Neb., Feb. 5. -- The State bank of Crawford did not open its doors yesterday morning. C. J. Grable, the cashier, is in the east, and A: E. Hobson, assistant cashier, will say nothing of the bank further than that, owing to the absence of Francis C. Grable, its president, coupled with the fact that currency which was expected yesterday morning did not arrive from the east, he thought it better not to attempt to run through the day.

5. February 5, 1898 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, February 5, 1898

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Article Text

GRABLE'S BANK CLOSES FAILURE OF MONEY TO ARRIVE FROM THE EAST THE CAUSE Various Enterprises of the Promoter Going Down Like a Row of Bricks -Western Boomer Not Afraid to Risk His Own Money With That of Others. CRAWFORD, Neb., Feb. 4. - The State Bank of Crawford did not open its doors this morning. C. J. Grable, the cashier, is in the East. A. E. Hobson, assistant cashier, will say nothing of the bank further than that owing to the absence of Francis C. Grable, its president, coupled with the fact that the currency which was expected this morning did not arrive from the East, he thought it better not to attempt to run through the day. Hobson says the bank will pay out depositors and all liabilities in full. This bank has been conducted on a conservative, safe and paying basis, and it is generally conceded by local creditors that its paper and assets are gilt edged. Its assets are about $40,000 and liabilities, outside of stock, about $20,000. There is no excitement. Cashier Grable will be here Monday.

6. February 5, 1898 The Herald Los Angeles, CA
Article from The Herald, February 5, 1898

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Article Text

ANOTHER BANK Yields to the Pressure of Too Much Grable OMAHA, Neb., Feb. 4.-A special to the Bee from Crawford, Neb., say The State bank of Crawford did not open its doors this morning. C. J. Grable, the cashier, is east. A. E. Hobson, assistant cashier, will say nothing of the bank further than that owing to the absence of Mr. Francis C. Grable, its president, coupled with the fact that the currency which was expected this morning did not arrive from the east, he thought it better not to attempt to run through the day. Hobson says the bank will pay depositors and all liabilities in full. This bank has been conducted in a conservative, safe and paying basis, and it is generally conceded by local creditors that its paper and assets are giltedged. Its assets are about $40,000 and liabilities, outside of stocks, about $20,000. There is no excitement. Cashier Grable will be here Monday.

7. February 5, 1898 The Age-Herald Birmingham, AL
Article from The Age-Herald, February 5, 1898

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Article Text

MR, GRABLE'S BANK FAILS The Man Who Swindled Quinlan Has Troubles. ANOTHER OF HIS SCHEMES The Inter-State Canal and Irrigation Company Also Announces That It Hasn't a Dollar in the Treasury. Crawford, Neb. 4.-The State Bank of Crawford did not open its doors this morning. The cashier of the institution will say nothing of the bank's affairs further than that owing to the absence of Francis C. Grable, its president, coupled with the fact that the currency which was expected this morning did not arrive from the east, he thought it better not to attempt to run through the day. He says the bank will pay all depositors and all liabilities in full. Its assets are about $40,000 and liabilities, outside or stock, about $20,000. Philadelphia, Pa., Feb. 4.-The Inquirer will say tomorrow that the Interstate Canal and Irrigation, company. one of the enterprises of Francis C. Grable, has announced to its creditors that it has not a dollar in its treasury with which to pay notes. It follows with a statement from the treasurer of the company, George P. Luper, who is also second vice-president of the Security Trust and Insurance company of this city. The capital stock of the incorporation, he knew, was $1,000,000, but only about $300,000 of stock had been issued. This had been issued only to Grable for 8,000 acres of land, including 2,200 town lots, the property lying in and around Edgmont, a town of 1,200 people, whose name also appears in the title of another of Grable's ventures, the Edgmont and Union Hill Smelting company. The Interstate Canal and Irrigation company is a New Jersey corporation.

8. February 5, 1898 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, February 5, 1898

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Article Text

The Promoter's Bank Closed. CRAWFORD, Neb., Feb. 4.-The State Bank of Crawford did not open its doors this morning. C. J. Grable, the cashier, is in the East. E. A. Hobson, assistant cashier, will say nothing of the bank further than that, owing to the absence of Francis A. Grable, its president, coupled with the fact that the currency which was expected this morning did not arrive from the East, he thought it better not to attempt to run through the day. Mr. Hobson says the bank will pay all liabilities in full. This bank has been conducted on a conservative, safe and paying basis, and it is generally conceded by local creditors that its papers and assets are gilt-edged. Its assets are about $40,000 and liabilities, outside of stock, about $20,000. There is no excitement. Cashier Grable will be here Monday. Local depositors express unbounded confidence in Grable and Hobson, and it is believed that the bank will be open as usual in a few days.

9. February 5, 1898 Worcester Morning Daily Spy Worcester, MA
Article from Worcester Morning Daily Spy, February 5, 1898

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Article Text

GRABLE'S ENTERPRISES. Nebraska Bank Closes Doors, and Canal and Land Co. Insolvent. Omaha, Neb., Feb. 4.-A special to the Bee from Crawford, Neb., says: The state bank of Crawford did not open its doors this morning. C. J. Grable, the cashier, is in the east. A. E. Hobson, assistant cashier, says that, owing to the absence of Francis C. Grable, its président, and the fact that currency expected this morning did not arrive, he thought it better not to attempt to run through the day. Hobson says the bank will pay out depositors and all liabilities in full. The bank's assets are about $40,000, and liabilities, outside of stock, are about $20,000. Philadelphia, Feb. 4.-The Enquirer will say tomorrow that the Interstate Canal and Irrigation, Canal and Land Company, one of the enterprises of Francis C. Grable, has announced to its creditors that it has not a dollar in its treasury with which to pay notes due. It follows with a statement from the treasurer of the company, George B. Luper, who is also second vice president of the Security Trust and Life Insurance Co. of this city. Mr. Luper said he could not tell whether there would be immediate application for the appointment of a receiver or not. The capital stock of the corporation he knew was $1,000,000, but only about $300,000 of stock had been issued. This had been issued mainly to Grable for 8000 acres of land, including 2200 town lots, the property lying in. and around Edgemont, a town of 1200 people, whose name also appears in the title of another of Grable's ventures, the Edgemont and Union Hill Smelting Co. The Interstate Co. is a New Jersey corporation. St. Paul, Minn., Feb. 4.-A Lead, S. D., special to the Pioneer Press says: It is not thought that any permanent harm to Black Hill enterprises will result from business troubles of Francis Grable. All of Grable's shcemes will terminate successfully if managed right. There is no question that the Union Hill mines are rich with gold.

10. February 8, 1898 The River Falls Times River Falls, WI
Article from The River Falls Times, February 8, 1898

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Article Text

A Grable Bank Busts. Crawford, Neb., Feb. 6.-The State Bank of Crawford did not open its doors yesterday morning. C.J. Grable, the cashier, is in the East. A. E. Hobson, sasistant cashier, will say nothing of the bank further than that owing to the absence of Francis C. Grable, its president, coupled with the fact that the currency which was expected did not arrive from the East, he thought it better not to attempt to run through the day. Hobson says the bank will pay out depositors and all liabilities in full.

11. March 1, 1934 Northwest Nebraska News Crawford, NE
Article from Northwest Nebraska News, March 1, 1934

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Article Text

36 YEARS AGO Items taken from the files of the Crawford Gazette of Feb. 18, 1898. A dazzling new sign adorns the front of the Palace barber shop. J. W. Rowland has been enrolled as a member of the Gate City Band, and is assigned to Eb tuba The first genuine rain storm passed over US Monday. Enough rain fell to make the streets muddy. One young man in town was the happy (?) recipient of 32 of those penny Another a barber, Edmund H a Boston attorney was in Crawford Wednesday. He is one of the eastern directors of the Crawford Company. R. S. Q Hamaker is minus a fur coat It was taken from his wagon last while he was in McNair's hardware store delivering a Rev Phillip H. Smith has accepted the of the M E. church in pastorate city. Mr. Smith is married man and is expected to be here to preach Sunday, Feb. 27. L. C. Ramberg and Vet Canfield. of Whitney, were trading in town Tuesday Lee Garner, Sid Woodard, Ed Chaulk, all of Whitney, also had business in town the same day. Rev. Geo. Milne, of Muscatine, Iowa, was here Sunday, and preached in the Methodist church that evening He was here chiefly to visit his father who was recently severely injured. The States battleship Maine was blown up, while lying at anchor in Havana harbor Wednesday morning and it is charged that the Spanish are accountable for the disaster A loss of 253 men is reported. John P. Jones was appointed receiver of the State Bank of Crawford by Judge W. H. Westover this week. Mr. Jones was formerly ier of the Rushville bank. He refuses to give out any information in to the financial condition of regard the bank at this time. Last Friday Engineer Bauersachs received word that the night crew position as night watchman. E. C. Salisbury and Cashier A. B A team driven by the Misses NetEnglish jumped before the team had gone far, but her sisters were thrown from the wagon near Mr. West's lumber yard. The post of the sign Star livery stable was struck by the passing wagon and snapped off close to the ground. The wagon was more or less damaged. Nobody was se. verely but Miss Nettie English some painful cuts and bruises. James Higgins, a brother of Tim and John Higgins, of this city, was last week brought here from Denver totally blind. On the afternoon of Dec. 16th, he was working in an iron mine leased by the Denver & Gulf R. R. Co. situated about 20 miles from Badger station on the Cheyenne & Northern railroad. A heavy charge of giant powder was prematurely exploded at which time James Higgins lost both of his eyes and Sam Rogers, a miner who was working with him, lost one eye. The accident happened at 3 o'clock in the afternoon and it was not until 2 o'clock the next day that a doctor was brought to the scene and three and a half days elapsed before the suffering men were finally placed in a Denver hospital. We are informed that the company has offered to settle with Mr. Higgins for $10,000, but the offer has been flatly rejected. Mrs Besse Meredith and daughter who have been visiting for A L Lazenby for some time the manager of Paxton & Gallagher's wholesale house in this city, has resigned his position with that firm to accept one with the International Harvester company as shipping F L. Harrison and his son Arthur H., of Delmont, S. D., are here to commence operations on the their homesteads 13 miles northeast of town The elder Mr Harrison also purchaser quarter section of deeded land adjoining his homestead. At the Central Pharmacy they have the very latest Edison phonograph. It is called the and besides having all the good is masterpiece of cabinet work thing of beauty The price without any records is $200, and this ma chine was the first one of the kind shipped west of the Missouri river from the Edison factory at Orange N The fire at Hemingford last week destroyed Everett's pool hall, A Murlew's general merchandise store with a $20,000 stock, the telephone central, the Schindler hardware. Bushnell's general store, Robert Fr happle's livery stable with $400 worth of hay, The People's bank fixtures in Burlew's store The total loss is estimated at $50,000 to $75.000 There was no fire protection, even the chemical engine owned by the town being out of commission.