Bank of Frost (Frost, TX)

Episode Information

Episode UID
1563002591244
Episode Type
Suspension → Reopening
Bank Type
private
Bank ID
156300259 hash
Start Date
August 21, 1903
Location
Frost, Texas (32.080, -96.807)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
45249a323d7d1d33

Response Measures

None

Description

Suspension appears precautionary after correspondent failure; reopening not reported in these articles.

Events (1)
1. August 21, 1903 Suspension
Cause
Correspondent
Cause Details
President Oliver of the Citizens' National (Beaumont) wired his affiliated banks including Frost not to open after the Beaumont bank closed; Frost had overdrafts with the Citizens' bank.
Newspaper Excerpt
President Oliver ... wired the banks at Frost ... not to open their doors, and all of them ... suspended payment for the time being.
Source
newspapers

Newspaper Articles (8)
1. August 21, 1903 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 21, 1903

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Article Text

FOUR SMALL BANKS CLOSE. After Effect of the Beaumont Citizens' National Failure. BEAUMONT, Tex., Aug. 20.-President Oliver, of the Citizens' National Bank, which closed its doors yesterday, this morning wired the banks at Frost, Groesbeck, Barron and Hubbard City, in which he is interested, not to open their doors, and all of them to-day suspended payment for the time being. They are involved, in so far as Oliver is concerned, but are not known to be otherwise in trouble. They are all represented among the banks having overdrafts with the Citizens' Bank. Mr. Oliver declinés to say why he ordered his banks closed. The failure of the Citizens' National, of this city, has not affected the business houses of Beaumont, and the other banking institutions were not called on to-day to do other than their usual amount of business. Bank Examiner Logan still refuses to make any statement about the condition of the bank.

2. August 21, 1903 Arizona Republican Phoenix, AZ
Article from Arizona Republican, August 21, 1903

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Article Text

CHAIN OF BANKS CLOSED. Beaumont, Texas, Aug. 20.-President Oliver of the Citizens' National bank, which closed its doors yesterday, today wired the banks at Frost, Groesbeck, Barron and Hubbard City, in which he is interested, not to open their doors, and all of them today suspended pay ment for the time being.

3. August 21, 1903 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, August 21, 1903

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Article Text

OLIVER CLOSES HIS BANKS. Liabilities of the Beaumont Continue to Show Up. Beaumont, Tex., Aug. 20.-Bank Examiner Logan still refuses to make any statement about the condition of the bank, but from other reliable sources it is learned that the liabilities of the bank will reach close to $450,000 divided as follows: Deposits, $277,000; bills payable and notes and bills discounted, $1733,000, making a total of $450,000. President Oliver wired the banks at Frost, Groesbeck, Barron and Hubbard City, in which he is interested, not to open their doors, and all of them to-day suspended payment for the time being. They are involved insofar. as Oliver is concerned, but are not known to be otherwise in trouble. They are all represented among the banks having over drafts with the Citizens Bank. Mr. Oliver declines to say why he ordered his banks closed.

4. August 21, 1903 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 21, 1903

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Article Text

MORE BANKS CLOSED. Failure at Beaumont Involved Other Institutions. Beaumont, Tex., Aug. 20.-President Oliver of the Citizens' National bank, which closed its doors yesterday, today wired the banks at Frost, Groesbeck, Barron and Hubbard City, in which he is interested, not to open their doors, and all of them today suspended payment for the time being. They are involved in so far as Oliver is concerned, but are not known to be otherwise in trouble. They are all reported among the banks having overdrafts with the Citizens' bank. Mr. Oliver declines to say why he ordered his banks closed. The failure of the Citizens' National has not affected the business houses of Beaumont, and the other banking institutions were not called upon today to do other than the usual amount of business. Bank Examiner Logan still refuses to make any statement about the condition of the bank.

5. August 26, 1903 Watertown Republican Watertown, WI
Article from Watertown Republican, August 26, 1903

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Article Text

More Banks Suspend. Beaumont, Tex., Aug. 21.-President Oliver, of the Citizens' national bank, which closed its doors Wednesday, wired the banks at Frost, Grosbeck, Barron and Hubbard City, in which he is interested, not to open their doors, and all of them on Thursday suspended payment for the time being. They are involved in so far as Oliver is concerned, but are not known to be otherwise in trouble. They are all represented among the banks as having overdrafts with the Citizens' bank. Mr. Oliver declines to say why he ordered his banks closed.

6. August 27, 1903 The Manitowoc Pilot Manitowoc, WI
Article from The Manitowoc Pilot, August 27, 1903

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Article Text

More Banks Suspend. Beaumont, Texas, Aug. 21.-President Oliver, of the Citizens National bank, which closed its doors Wednesday, wired the banks at Frost, Groesbeck, Barron and Hubbard City, in which he is interested, not to open their doors, and all of them on Thursday suspended payment for the time being. They are involved in so far as Oliver is concerned, but are not known to be otherwise in trouble. They are all represented among the banks as having overdrafts with the Citizens bank. Mr. Oliver declines to say why he ordered his banks closed.

7. August 29, 1903 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, August 29, 1903

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Article Text

More Banks Suspend. Beaumont, Tex., Aug. 21.-President Oliver, of the Citizens' national bank, which closed its doors Wednesday, wired the banks at Frost, Grosbeck. Barron and Hubbard City, in which he is interested, not to open their doors, and all of them on Thursday suspended payment for the time being. They are involved in so far as Oliver is concerned, but are not known to be otherwise in trouble. They are all represented among the banks as having overdrafts with the Citizens' bank. Mr. Oliver declines to say why he ordered his banks closed.

8. August 29, 1903 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, August 29, 1903

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Article Text

More Banks Suspend. Beaumont, Tex., Aug. 21.-President Oliver, of the Citizens' national bank, which closed its doors Wednesday, wired the banks at Frost, Grosbeck, Barron and Hubbard City, in which he is interested, not to open their doors, and all of them on Thursday suspended payment for the time being. They are involved in so far as Oliver is concerned, but are not known to be otherwise in trouble. They are all represented among the banks as having overdrafts with the Citizens' bank. Mr. Oliver declines to say why he ordered his banks closed.