American Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: August 6, 1893
Location: Lincoln, Nebraska (40.800, -96.667)

Metadata

Model: gpt-5-mini
Short Digest: e883d8ea

Response Measures

None

Description

Article (Omaha Daily Bee, 1893-08-06) reports a receiver instructed to wind up the affairs of the American Savings Bank, convert assets to cash and pay depositors (first payment ~25% within 60 days). Although there is mention of the president seeking capital to resume business, the explicit instruction to wind up and appointment of a receiver indicates a receivership/closure rather than a temporary run-only episode. No run is described.

Events (2)

1. August 6, 1893 Receivership

Newspaper Excerpt: Receiver Thomas of the American Savings bank received instructions from Lincoln yesterday morning to proceed immediately to wind up the affairs of that institution by converting everything into cash and pay up the depositors and other creditors of the bank. It is stated that this will probably take about a year, but that the first payment of about 25 per cent will probably be forthcoming inside of sixty days.
Source: newspapers

2. August 6, 1893 Suspension

Cause: Government Action
Cause Details: Receiver instructed to wind up affairs and pay depositors; court/official action leading to suspension/closure
Newspaper Excerpt: Receiver Thomas of the American Savings bank received instructions from Lincoln yesterday morning to proceed immediately to wind up the affairs of that institution by converting everything into cash and pay up the depositors and other creditors of the bank.
Source: newspapers

Newspaper Articles (1)

1. August 6, 1893 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, August 6, 1893

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Article Text

MAY RESUME. New Turn In the American Savings Bank Financial Affairs. Receiver Thomas of the American Savings bank received instructions from Lincoln yesterday morning to proceed immediately to wind up the affairs of that institution by converting everything into cash and pay up the depositors and other creditors of the bank. It is stated that this will probably take about a year, but that the first payment of about 25 per cent will probably be forthcoming inside of sixty days. President Carter, who is also president of the American Loan and Trust company, to which position he has been restored by the discharge of the receiver, left last evening for Boston, where he will endeavor to make such arrangements with eastern capitalists as will enable not only the investment company but the savings bank as well to shortly resume business. Those who are best acquainted with Mr. Carter state that if anyone can accomplish this difficult undertaking he is that one.