13068. Bank of Commerce (Grand Island, NE)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 20, 1896
Location
Grand Island, Nebraska (40.925, -98.342)

Metadata

Model
gpt-5-mini
Short Digest
4da4e984

Response Measures

Full suspension, Books examined

Other: Bank closed permanently and receiver appointed; dividends later paid by receiver.

Description

Contemporary newspapers report a run by heavy depositors around Jan 20–22, 1896; the bank closed its doors and did not reopen. A receiver was later active (dividend ordered Nov 28, 1896). Cause of the run is not described as rumor or fraud; articles state heavy depositors withdrew funds, so cause set to 'other'.

Events (3)
1. January 20, 1896 Run
Cause Details
Large withdrawals by heavy depositors (county treasurer withdrew large sums); articles do not attribute withdrawals to a rumor or specific misinformation.
Measures
None reported beyond telegraphing the bank examiner; no successful remedial measures described.
Newspaper Excerpt
considerable of a run was made on the institution
Source
newspapers
2. January 21, 1896 Suspension
Cause Details
Bank closed after run by heavy depositors; cashier ill and bank examiner was called to take charge. Reports state it 'will not reopen in the morning.'
Newspaper Excerpt
The Bank of Commerce closed its doors last night. ... telegraphed for the bank examiner to take charge.
Source
newspapers
3. November 28, 1896 Receivership
Newspaper Excerpt
Judge Thompson of the district court has issued an order to Receiver Auyan of the Bank of Commerce to pay a dividend of 15 per cent on December 1.
Source
newspapers

Newspaper Articles (13)
1. January 21, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, January 21, 1896

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Article Text

MAY NOT OPEN AGAIN Bank of Commerce of Grand Island, Neb. is in a Bad Way. Omaha, Jan. 20.-A special to the Bee from Grand Island, Neb., says: The Bank of Commerce closed its doors tonight and attaches of the bank say it will not reopen in the morning. Director C. Zink telegraphed for the bank examiner to take charge. O. J. Smith, cashier, is in his room threatened with typhoid fever and considerable of a run was made on the institutiontoday. The capital stock is $150,000. County Treasurer Thompson is the heaviest loser. Today he deposited $15,000 and the county had in the bank $10,000 more. The run made today is said to have drawn out about $15,000 and was by the heavier depositors, and not by the large number of small holders. Bank Examiner Cowdery of Lincoln arrived on the late train tonight.

2. January 21, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, January 21, 1896

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Article Text

Grand Island, Neb. Bank Fails. GRAND ISLAND, Neb., Jan. 21.-The Bank of Commerce closed its doors last night. Considerable of a run was made on the institution. The capital stock is $150,000. County Treasurer Thompson is the heaviest loser. Yesterday he deposited $15,000, and the county had in the bank $10,000 more.

3. January 23, 1896 Hutchinson Gazette Hutchinson, KS
Article from Hutchinson Gazette, January 23, 1896

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Article Text

Another Nebraska Bank Fails. GRAND ISLAND, Neb., Jan. 22.-The Bank of Commerce closed its doors last night. Considerable of a run was made on the institution. The capital stock is $150,000. County Treasurer Thompson is the heaviest loser. Yesterday he deposited $15,000, and the county had in the bank $10,000 more.

4. January 23, 1896 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, January 23, 1896

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Article Text

A BANK CLOSED. Grand Island, Neb., Jan. 21.-The Bank of Commerce closed its doors last night. 0. J. Smith, cashier, is threatened with typhoid fever, and a considerable run on the institution was made. The capital stock is $150,000. County Treasurer Thompson is the heaviest loser.

5. January 23, 1896 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, January 23, 1896

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Article Text

A BANK CLOSED. Grand Island, Neb., Jan. 21.-The Bank of Commerce closed its doors last night. O. J. Smith, cashier, is threatened with typhoid fever, and a. ecnsiderable run on the institution was made. The capital stock is $150,000. County Treasurer Thompson is the heaviest loser.

6. January 25, 1896 The Washburn Leader Washburn, ND
Article from The Washburn Leader, January 25, 1896

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Article Text

A Bank Closes, Grand Island, Neb., Ja 1. 22.-The Bank of Commerce closed its doors today, and will not reopen n the morning. The failure was caused by a run on the bank by heavy depositors.

7. January 25, 1896 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, January 25, 1896

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Article Text

A Bank Cloxes. Grand Island. Neb.. Jan. 22.-The Bank of Commerce closed its doors today. and will not reopeu in the morning. The failure was caused by a run on the bank by heavy depositors.

8. November 29, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, November 29, 1896

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Article Text

Defunct Bank Paying Out. GRAND ISLAND, Nov. 28.-(Special.)Judge Thompson of the district court has issued an order to Receiver Auyan of the Bank of Commerce to pay a dividend of 15 per cent on December 1.

9. January 8, 1897 Hopkinsville Kentuckian Hopkinsville, KY
Article from Hopkinsville Kentuckian, January 8, 1897

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Article Text

Financial and Industrial Interests-Notabie Disasters of Various Kinds-Crimes and Lynchings-The Political Arena Sportsman's Column. BUSINESS FAILURES. BANKS GENERALLY - INCLUDING VOL-UNTARY SUSPENSIONS. Jan. II-Exchange, Greeley Center, Neb. Fifth Avenue savings, Columbus, O. Jan 13-Bank of Ogalalia, Neb. Jan. 14-Banks at Blue Springs and Stratton, Neb. Jan. 15-Bank of Wauneta, Neb City bank, Minneapolis. Jan. 16-Irish-American, Minneapolis. Jan. 17-Farmers' national, Portsmouth Jan. 20-Bank of Commerce, Grand Island, Neb. Feb. 6-At Momence, III, bank of Wilton M. Durham Maurice, Ia., State Citizens', Connersville, Ind Feb. 14-Exchange, Flemingsburg, Ky. Feb. 17-McCague savings, Omaha. Mar. 3-Central Trust and Savings, Chicago. Mar. 6-Bank of Frankfort, Mich Malachi Maynard's, Apple River, III. Mar. -Sherman county, Goodland, Kan. Bloomfield (Neb.) State Commercial and Savings, San Jose, Cal. Mar. 27-Midway (Ky.) Deposit. Mar. 30-First national, Morris, Minn. Apr. 4-Farmers', Decatur, III. Apr. 11-Chadron (Neb.) Banking Co. Apr. 16-First national, and Liberty savings, Bedford City, Pa. Apr 22-American national, Denver, Col., $865,231. Apr. 24-Grand Forks (N. D.) national. May 1--City savings. Hot Springs, Ark Bank of Fairland, III. May 7-Citizens', Union City, Ind. May 14-Sumner national, Wellington, Kan. May 19-Citizens', Edwardsburg. Mich. May 26-National, Jefferson, Tex. May 28-Bank of New England, Manchester, N. H. June 2-Bank of Maroa, 111 June 3-Farmers' deposit, Creighton, Mo. June 11-John A. Thompson's bank, Edinburg. Ind First national, Larned, Kan. June 16-First national, and Bank of Cheney, Chency, Wash June 25-Security savings, Winchester, N. H Hinsdale (N. H savings. July 13-People's savings. Lansing, Mich. July 16-First national, Hillsboro, O. July 23-German savings, Omaha. July 27--Farmers' bank, Rock Valley, Ta. July 29-Denison (O.) deposit. Aug. 6-American national, New Orleans Conkling Bros., Nevada (Mo.) bankers Banks at Bronaugh and Richards, Mo. Aug. 7-Lake county, East Chicago, Ind. Ingham county savings, Lansing, Mich. Aug. 11-Security, Duluth, Minn. $800,000 Murray Hill, New York. $500,000. Aug. 12-Bank at National City, Col. Aug. 14-State bank. Peru. III. Aug. 19-Bank of Argentine, Kan. Aug. 21-Bank of Wymore, Neb. Aug. 24-Church & Son's state bank at Lowell, Mich Aug 28-Sloux national. Sloux City, Ia., $900,000. Sept. 1-First national, Beatrice, Neb. Sept. 2--Manufacturers' bank, West Duluth, Minn State Loan & Trust Co. bank. Ogalalla, Neb. Sept. 4-First national, Helena. Mont. Sept. 5-Jackson county. Black River Falls, Wis. Sept. 10-Mutual national, New Orleans. Sept. 11-Bankof Commerce, New Orleans. Sept. 14-Bennett national, New Whatcom, Wash Sept. 16-Midland state, Omaha, Neb. Sept. 17-Shellsburg (Wis.) bank. Sept. 19-National, Troy, N. Y.; $449,000. Sei. t. 22-Pawnee (III.) bank. Sept. 23-Mapleton (Minn.) bank. Sept. 25-Argonia (Kan.) state bank. Sept. 26-Tribune (Kan.) bank. Oct. 5-First national, Mount Pleasant, Mich. Oct. 7-First national, Ithaca, Mich Oct. 10-Security Trust Co., Nashua, N. H. Oct. 12-First national, Eddy, N. M. Oct. 14-Marine national, Duluth, Minn Bank of r Second national, Rockford. III Commerce, Buffalo, N. Y. 1 Bank Oct. 16-Merchant's, Atlanta, Ga of Pukwana, S. D. < Oct. 19-Marion (O.) Deposit. Oct. 28-At Big Rapids, Mich., Mecosta c savings. Nov. 5-Marine national, Duluth. Minn. Nov. 10-Iowa savings, Sioux City First national, Decorah, Ia. 1 Nov. 14-La Harpe (111.) bank. 4 Nov. 19-First national, Sioux City, Ia Sioux City, la. Nov. 22-First national, East Saginaw, Mich Nov. 23-Dakota national, Sloux Falls, S. f D. Nov. 24-Davis County Savings associaC tion, Gallatin, Mo. Nov. 28-Citizens' bank, Midlothian, Tex. Mis D Nov. 30-First national, Tyler, Tex souri national. Kansas City: $1,131,000 r Dec. 1-German-American, Portage, Wis. Bank of Westport, Mo. e Dec. Baxter, of Baxter Springs, Kan. Henry county, at Clinton, Mo. f Dec. 10-Harlan (la.) state Jonathan Easterly, Columbiana (O.) bankers. S Dec 11 National Bank of Commerce, Duluth, Minn First national, Niagara, 0 N.Y. a Dec. 14-First national, Holidaysburg. Pa Banks at Martinsburg and Williamsburg, Pa. Dec. 21-National bank of Illinois, at Chi1 cago-E. S. Dreyer & Co., Chicago, $1,200,600 6 Wasmansdorff, Heinemann & Co. r Dec. 22-Bank of Minnesota, and Union stockyards bank, at St. Paul. W Dec. 23-Bank of West Superior, Wis American Banking & Trust Co., Auburn. V Me. Dec. 24-Calumet state bank, Blue Island, 1 III. Dec. 26-Security Mortgage & Trust Co., n Dallas, Tex.; $2,000,000-Atlas national, Chicago. Dec. 28-Bank.of Superior. Wis Scan-

10. December 7, 1900 The Billings Gazette Billings, MT
Article from The Billings Gazette, December 7, 1900

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Article Text

WOODMEN THE WINNERS. Lincoln, Neb., Dec. 5-The effect of an opinion rendered by the supreme court this evening will be to revert to the order of Modern Woodmen of America in whole or in part the sum of $27,000 deposited in the Bank of Commerce of Grand Island, when it failed in 1896. Head Banker Seinke of the Modern Woodmen, under the impression that his deposit had been transferred to an Omaha bank failed to file his claim within the time limit. When he finally filed it the claim was resisted by the receiver. The supreme court holds the claim is legal.

11. December 7, 1900 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, December 7, 1900

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Article Text

wise on the tracks. Engineer Nat Kellam was badly injured. Fireman Ole Johnson was cut about the head and had his back wrenched. Two unknown men, who were stealing a ride, were killed. The effect of an opinion by the Nebraska Supreme Court will be to reimburse the Order of Modern Woodmen of America in whole or in part of the sum of $27,000 deposited in the Bank of Commerce of Grand Island when it failed, in 1896. Head Banker Seinke, of the Modern Woodmen, under the impression that his deposit had been transferred to an Omaha bank, failed to file his claim within the time limit. When he finally did file his claim it was resisted by the receiver. The Supreme Court holds the claim is legal, regardless of the time of filing or other technicalities, and the order is entitled to its pro rata share of dividends.

12. December 14, 1900 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, December 14, 1900

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Article Text

Recovers Money. A Lincoln, Neb., Associated Press dispatch says: "The effect of an opinion by the supreme court will be to reimburse the order of Modern Woodmen of America, in whole or in part, $27,000 deposited in the Bank of Commerce of Grand Island, when the bank failed in 1896. Head Banker Zink, of the Modern Woodmen, under the impression that his deposit had been transferred to an Omaha bank, failed to file his claim within the time limit When he finally did file his claim it was resisted by the receiver. The supreme court holds the claim is legal, regardless of the time of filing, and the order is entitled to its pro rata share of dividends."

13. July 12, 1901 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, July 12, 1901

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Article Text

FOR NEXT HEAD CAMP Standing Committees Are Appointed for Woodmen by Consul Northcott. DEPUTY ALBERT HAS RESIGNED To Become President of Fraternal Brotherhood of the World. Head Consul W.A. Northcott, of the Modern Woodmen society, complying with the requirements of the society's law, has appointed the head camp standing committees. These committees will serve until adjournment of the 1903 head camp, or national convention, of the Modern Woodmen. to be held in Indianapolis, Ind., the third week in June of that year. The committees appointed by Mr. Northcott are the following: Committee on Credentials-S. S Tanner, chairman, Minier, Illinois; A. J. Brawley, St. Paul. Minnesota; George F. Simmons. Peoria, Illinois; Edwin A. Reece, Portland, Oregon; John W. Schanker, Vandalia, Illinois. Committee on Laws-Charles G. Laybourne, chairman, Minneapolis, Minn; Truman Plantz, Warsaw, Illinois; John Sullivan. Kansas City, Missouri; E. A. Enright, Kansas City, Kansas; George E. Jenkins, Fairbury, Nebraska. Committee on Mileage and Per Diem -F. M. McDavid, chairman, Springfield, Missouri; Alfred Adams. Taylorville, Illinois; W. T. Copeland, Lima, Ohio; E J. Bullard, St. Johns, Michigan; W. H. Boyer, Lewistown, Illinois. Committee on Appeals and Grievances-E. B. Belden, chairman. Racine, Wisconsin: Thomas H. Duffy, Dubuque, Iowa; D. C. Tillotson, Topeka, Kansas; L. W. Otto, Crawfordsville, Indiana; Jesse A. Miller, Des Moines, Iowa. Leaves With Fine Record. George B. Albert, of Marshalltown, Iowa, state deputy head consul of the society, has resigned to accept the presidency of the Fraternal Brotherhood of the World, and George N. Frink of Des Moines, has been appointed to succeed him as state deputy. Mr. Albert was appointed Woodmen state deputy when there were but 15,000 members of the society in Iowa. He steps down and out leaving 73 000 members in Iowa. His successor, Mr. Frink, is an experienced field worker and has been officially connected with the Woodmen society for years. Like Money From Home. The society has just received a check for $9 544 from the receiver of the Bank of Commerce, Grand Island, Neb., as a dividend on a deposit of Woodmen funds held by that bank at the time of its failure in 1896. Another 5 per cent dividend has been declared by the receiver in addition to the foregoing and is now in process of payment.