National Bank of Commerce

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 4270
Charter Number: 4270
Start Date: December 5, 1907
Location: Omaha, Nebraska (41.259, -95.938)

Metadata

Model: gpt-5-mini
Short Digest: 4b86e192

Response Measures

None

Description

The bank was closed by the Comptroller of the Currency and later reopened. Articles attribute the closure to official action (comptroller) and 'talk' but do not describe a depositor run. Reopening scheduled for 1908-03-31.

Events (4)

1. March 24, 1890 Chartered

Source: historical_nic

2. December 10, 1901 Voluntary Liquidation

Source: historical_nic

3. December 5, 1907 Suspension

Cause: Government Action
Cause Details: Closed by the Comptroller of the Currency (official suspension of the bank).
Newspaper Excerpt: three months and twenty-five days after it was closed by the comptroller of the currency.
Source: newspapers

4. March 31, 1908 Reopening

Newspaper Excerpt: the National Bank of Commerce of this city will reopen tomorrow, three months and twenty-five days after it was closed by the comptroller of the currency.
Source: newspapers

Newspaper Articles (1)

1. March 30, 1908 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, March 30, 1908

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Article Text

e e lions in Cash, Representing If Its Deposits, in the Vaults. CITY, March 29.-Its credit re$6,000,000 in cash and exchange inch to pay a deposit account of 1000,000 and with financiers of national promience in charge, the National Bank of Commerce of this city will reopen tomorrow, three months and twenty-five days after it was closed by the comptroller of the currency. The National Bank of Commerce was the largest national bank in capital and deposits that ever failed in the United States and its resumption of business will do much toward bettering conditions in the financial world, especially in the southwest. W. B. Ridgely, who will be president of the reorganized bank and who resigned last week as, comptroller of the currency, is on the board of directors and is the largest stockholder in the new bank. His brother, Edward Ridgely, will be cashier, and George T. Cutts, who was receiver of the suspended bank, will be vice president. D. E. Francis, W. A. Pickering and Theodore Hemmelman, all of St. Louis, are members of the directorate and stockholders of the reorganized bank. The Bank of Commerce had not been closed two days before its officers and directors began planning to reopen it. Talk, they declared, had closed the bank and money could overcome the unfortunate situation. A committee was formed to represent the stockholders and the comptroller was asked for terms under which the bank could be opened. The terms were submitted and the financiers interested set to work and complied with them.