Tecumseh National Bank - Tecumseh, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4276
Charter Number: 4276
Start Date: October 16, 1891
Location: Tecumseh, Nebraska (40.367, -96.196)

Metadata

Model: gpt-5-mini
Short Digest: c625ecb7

Response Measures

None

Description

Articles (Oct 16–17, 1891) report the Tecumseh National Bank was closed by the bank examiner/Comptroller due to a discovered $70,000 deficit caused by bad investments; officers deeded property to cover deficits. No run is mentioned; closure by examiner implies suspension that led to failure/closure (receivership not explicitly stated in texts).

Events (3)

1. April 1, 1890 Chartered

Source: historical_nic

2. October 16, 1891 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Examiner found a $70,000 deficit due to bad investments; officers deeded property to cover deficits.
Newspaper Excerpt: The Tecumseh National bank was closed today by Bank Examiner Griffith. The failure is not considered to be a bad one. Examiner Griffith is overhauling the accounts, in which there is said to be a deficit of $70,000. This has nearly all been made good by the officers of the bank, who have deeded over all their property. Bad investments are supposed to have caused the trouble.
Source: newspapers

3. August 9, 1915 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (2)

1. October 17, 1891 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, October 17, 1891

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Article Text

BUSINESS TROUBLES. Two Banks in Tennessee, One in Nobraska Fail-Other Assignments. NASHVILLE, Tenn., Oct. 17. 1:30 a. m.-A telephone message just received from Columbia, Tenn., says: The Columbia Banking Company. capital $100,000, and the Bank of Columbia, capital $60,000, both made assignments at midnight. There are no particulars except that the failure is caused by inability to collect. TECUMSEH, Neb., Oct. 16. - The Tecumseh National bank was closed today by Bank Examiner Griffith. The failure is not considered to be a bad one. Examiner Griffith is overhauling the accounts, in which there is said to be a deficit of $70,000. This has nearly all been made good by the officers of the bank, who have deeded over all their property. Bad investments are supposed to have caused the trouble. GAINESVILLE, Tex., Oct. 16.-Clever & Fletcher wholesale and retail hardware and agricultural implements, have failed. Assets, $235,000; liabilities, $200,000. CHICAGO, Oct. 16.-The Ayres and Wigant companies, piano and music dealers, assigned today Their liabilities and assets are estimated at $60,000 each.

2. October 23, 1891 The Columbian Bloomsburg, PA

Article from The Columbian, October 23, 1891

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Article Text

Sunday, October 18. The Women's University Club of the City of New York has been incorporated at Albany. Thirteen men have been arrested at Lake View, Ore., suspected of complicity in the recent robbery of the stage running between Linkville and Lakeview. Edward F. Searles is to present to the town of Methuen, Mass., a fine statue of General George Washington. It is to stand on a monument in the new park, which Mr. Searles intends to improve and beautify. The Bank of Columbia, Tenn., capital $60,000, and the Columbia Banking Company, capital $100,000, have assigned, because of inability to collect. The Comptroller of the Currency has closed the doors of the Tecumseh, Neb., National Bank, a deficit of $70,000 being found in the accounts. The famous shipbuilding firm of Harrison Loring & Sons, of Boston, was forced to make an assignment yesterday because the government did not make a payment on the new cruiser No. 11, which the firm is building at South Boston. The liabilities are roughly estimated at $375,000.