First National Bank - Albuquerque, NM

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 2614
Charter Number: 2614
Start Date: March 16, 1886
Location: Albuquerque, New Mexico (35.084, -106.651)

Metadata

Model: gpt-5-mini
Short Digest: 894cda26

Response Measures

Accommodated withdrawals, Full suspension

Other: Cashier Wilson arrested; embezzlement/defalcation discovered.

Description

Articles report a small run on the First National Bank (Mar 16, 1886) after the Albuquerque National Bank closed for irregularities; later reports (Mar 29, 1886) state the First National suspended after a $10,000 shortage by Cashier William Wilson and his arrest. Sources do not state whether the First National later reopened, so I classify as run -> suspension with outcome unsure.

Events (4)

1. January 11, 1882 Chartered

Source: historical_nic

2. March 16, 1886 Run

Cause: Local Banks
Cause Details: Run triggered by the closing of the Albuquerque National bank for irregularities of its cashier, which spooked depositors at the First National
Measures: Reynolds Bros. bank sent funds by express to liquidate deposits and stem the run
Newspaper Excerpt: When the bank was found closed a small run was made on the First National bank and was kept up until this morning, when the express brought sufficient money from the Reynolds Bros. bank to liquidate deposits
Source: newspapers

3. March 29, 1886 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Discovery of a $10,000 shortage/defalcation by Cashier William (Billy) Wilson and his subsequent arrest
Newspaper Excerpt: Recent dispatches announce the discovery of a shortage of $10,000 in the accounts of Cashier William Wilson, of the First National Bank of Albuquerque, New Mexico, the suspension of the bank, and the arrest and imprisonment of Mr. Wilson
Source: newspapers

4. February 7, 1934 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (3)

1. March 17, 1886 Fort Worth Daily Gazette Fort Worth, TX

Article from Fort Worth Daily Gazette, March 17, 1886

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Article Text

WILSON'S TROUBLE. He Befriended Too Many Men for the Bank's Good. Special to the Gazette. ALBUQUERQUE, N. M., March 16.-The excitement over the closing of the Albuquerque National bank yesterday on account of irregularities of Cashier Wilson has somewhat subsided, though there is much distrust among depositors. Some are fearful that they will not receive their full deposits, though guaranteed by the stockholders. When the bank was found closed a small run was made on the First National bank and was kept up until this morning, when the express brought sufficient money from the Reynolds Bros. bank to liquidate deposits, and by these means a financial crisis was timely avoided. Cashier Wilson is having a hearing before United States Commissioner Whiting on the charge of embezzling the funds of the bank, and from the testimony already adduced, it looks as if he will be bound over. He is a man that has been identified with the growth of Albuquerque from its inception, now holding the position of president of the Albuquerque Water works, treasurer of the Territorial Fair association and a director in the gas company,* the Albuquerque Hardware company and academy. He was largely interested in the building and fitting of the San Felipe hotel, the largest hotel this side of Topeka. There is hardly a person in Albuquerque that believes that be is criminally guilty of any wrong in connection with his position. The trouble is probably that he has befriended too many for his own good. The defleiency will aggregate only $8600. While out shopping to-day drop in and

2. March 29, 1886 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, March 29, 1886

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Article Text

An Ex-Wheelingite a Defaulter. Recent dispatches announce the discovery of a shortage of $10,000 in the accounts of Cashier William Wilson, of the First National Bank of Albuquerque, New Mexico, the suspension of the bank, and the arrest and imprisonment of Mr. Wilson by the U.S. authorities. Mr. Wilson was well known here, where he formerly lived. He was a brother of Messrs. Sam and Ab Wilson, who several years ago were in the shoe business on Market street, and who went to Albuquerque from here, where the former died. Mr. Wilson, whose defalcation causes no little surprise and no less pain here, was at one time bookkeeper for Simpson & Hoge. About 1860 he went west, locating first in St. Louis, and going from there to Albuquerqe, where his business success was immediate and unusual. He married the widow of the late Henry Harbour, of this city, and after her death again married a lady of Washington City, who also lived but a short time. He had been cashier of the bank for three years, and enjoyed public confidence to a high degree. His downfall is attributed to unprofitable speculations.

3. March 29, 1886 Wheeling Register Wheeling, WV

Article from Wheeling Register, March 29, 1886

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Article Text

A Former Wheelingite Gone Wrong. The New York Commercial Advertiser of recent date says that the First National Bank of Albuquerque, New Mexico, had suspended, and a shortage of $10,000 was found in the accounts of the cashier Wil liam Wilson, who had been arrested by the the United States Marshal. "Billy" Will son, it is said, is an old Wheeling boy, who left here probably twenty years ago, and it is understood that he lost the money in speculating in silver mines and cattle, the defalcations extending a year or 80 back. His many friends in this city will be shocked to learn of his downfull.