First National Bank - La Junta, CO

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 4507
Charter Number: 4507
Start Date: October 29, 1907
Location: La Junta, Colorado (37.985, -103.544)

Metadata

Model: gpt-5-mini
Short Digest: 66dd80f1

Response Measures

Accommodated withdrawals, Public signal of financial health

Receivership Details

Depositor recovery rate: 94.7%
Date receivership started: 1934-06-18
Date receivership terminated: 1936-12-09
Share of assets assessed as good: 73.6%
Share of assets assessed as doubtful: 19.7%
Share of assets assessed as worthless: 6.6%

Description

Article (Jan 31, 1908) reports the bank is paying depositors in full after a period of cash shortage running from Oct 29 to Jan 11. This refers to the 1907 panic; bank limited payments temporarily but remained open and resumed full payments.

Events (3)

1. January 20, 1891 Chartered

Source: historical_nic

2. October 29, 1907 Run

Cause: Macro News
Cause Details: Weakness and cash restraints stemming from the wider panic (1907); large correspondent banks held their money leading to heavy withdrawals and temporary inability to pay all depositors.
Measures: Restricted payments during the panic period; paid cash where absolutely needed; later resumed full cash payments.
Newspaper Excerpt: THE FIRST NATIONAL BANK of La Junta has more than $85,000 cash on hand... We are paying our depositors in full in cash. We told you this panic would not last ninety days. It lacked sixteen days at La Junta, from October 29th to January 11th.
Source: newspapers

3. June 18, 1934 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 1, 1908 La Junta Tribune La Junta, CO

Article from La Junta Tribune, February 1, 1908

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Article Text

La Junta, January 31, 1908. THE FIRST NATIONAL BANK of La Junta has more than $85,000 cash on hand and more than $180,000 cash in other banks. Our deposits have increased to more than $465,000. We are paying our depositors in full in cash. There is no limit. We told you this panic would not last ninety days. It lacked sixteen days at La Junta, from October 29th to January 11th. We regret we could not pay our depositors all the money they wanted during this time. We were forced* to this by the large banks which held our money, yet at no time did we refuse to pay cash where it was absolutely needed. THIS BANK NEVER a ISSUED ONE DOLLAR OF SCRIPT. Business has received jolt and our enthusiasm a dash of cold water. Within another ninety days, the wheels will be moving. money will creep from its is hiding places and a new era of prosperity will begin. Money perpetual motion. A hundred dollars under a rug, in a belt about your body, in a crevice of the closet or a safety box, does not earn one cent for its owner. It will come out of its hiding place as sure as the ground hog at the approach of spring. MAY IT COME OUT ON A CLOUDY DAY