15902. First National Bank (Burns, OR)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
6295
Charter Number
6295
Start Date
July 6, 1932
Location
Burns, Oregon (43.586, -119.054)

Metadata

Model
gpt-5-mini
Short Digest
b1280c7e7296aaf2

Response Measures

None

Receivership Details

Depositor recovery rate
65.9%
Date receivership started
1932-07-07
Date receivership terminated
1938-04-11
Share of assets assessed as good
39.2%
Share of assets assessed as doubtful
39.8%
Share of assets assessed as worthless
21.0%

Description

Articles report the First National Bank of Burns suspended in July 1932 and thereafter entered receivership and liquidation. There is no description of a depositor run in these articles. Multiple receivers are mentioned (Hall per Oct 1932, then G. McGuire Pierce resigning and Herbert Champneys taking over April 1934; later Charles Bryant is referred to as receiver), indicating permanent closure and administration in liquidation.

Events (6)

1. June 9, 1902 Chartered
Source
historical_nic
2. July 6, 1932 Suspension
Cause Details
Article states the bank 'failed to open its doors' and was suspended; no explicit cause (no run or specific insolvency cause described in the clipping).
Newspaper Excerpt
Burns Bank Suspended. The First National bank of Burns, Or. ... failed to doors for yesterday.
Source
newspapers
3. July 7, 1932 Receivership
Source
historical_nic
4. October 17, 1932 Receivership
Newspaper Excerpt
Hall receiver for the First National bank of Redmond and for the First National bank of Burns.
Source
newspapers
5. April 28, 1934 Receivership
Newspaper Excerpt
Disposal of a large number of papers ... left with the now suspended First National bank of Burns ... according to Herbert Champneys, receiver. Mr. Champneys, who this week took over the receivership following resignation of G. McGuire Pierce...
Source
newspapers
6. December 12, 1934 Other
Newspaper Excerpt
Charles Carlson ... conferring with the county's attorneys in regard to the hearing an injunction ... Bryant, receiver for the Burns First National bank, here yesterday conferring with the county's deputies ... The county has held up securities ... Bryant maintains that these securities are general assets of the bank.
Source
newspapers

Newspaper Articles (4)

Article from The Oregonian, July 6, 1932

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Article Text

Burns Bank Suspended. The First National bank of Burns, Or. in 1902, failed to doors for yesterday. The its bank, of which Damschen, cashier, officer, is member of the federal system. The bank's deposits June 30, 1932, were listed at $242,855, and its capital and surplus at $80,000. It is one of two banks in the Burns community. The other bank, the Harney County National bank, operating as usual Foreign Exchange. NEW YORK, July Foreign exbills France, cables demand Italy, demand Switzerland, Mexico peso, 26.75 *Nominal rate. New York Money Silver. NEW YORK, July money steady, all day; time steady days per per unchanged 30 days per months per London Money Silver. bills 1@11 month per Bank Portland Spokane *1,718,000.00 Portland Foreign Exchange The bank of Portland furdaily basis exclusive following wire quota Selling rates nominal to sterling francs 100 100 kroner kroner finmarks dinara 100 Hongkong currency 100 dollars currency per silver 18 per Easy NEW futures 18c; sales, 800,000 High. Low. and July September October January


Article from The Bulletin, October 17, 1932

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Article Text

California Folk Visit With Redmond Relatives Oct. and Mrs. M. W. Huffman of Oakland, California, are visiting her parents, Mr. and Mrs. Pete Marnach. Mrs. Marnach's mother, Mrs. Child, has returned to Portland following visit with her daughter daughter was born October 13 Mr. and Mrs. Milton Cain at the Redmond hospital. Cains live on Crooked Mrs. Victor Luthey has returned from Seaside where she was called the death of her father, Kimbell. Her mother accompanied her home Mrs. Max Wurtzweiler is visiting her mother in Portland Mr. and Mrs. Frank Reibboff have returned from Portland where they attended Knights of Pythias grand lodge. Mr: and Mrs. H. H. Hall have returned from trip to Burns. Hall receiver for the First National bank of Redmond and for the First National bank of Burns. Borden Beck, instructor agriculture at Redmond high school in Portland Saturday. accompaning Lynn Waggoner, Loyd Peterson and Arthur Holt, high school boys. They attended Livestock Exposition. Mrs. Beck accompanied them to Portland. Other Redmond folk in included Sam Wood and his son. Robwood The body of Miss Myrtle Wilson, Warmsprings school teacher killed last Sunday, was shipped last week to Batavia, lown for burial.


Article from The Sunday Oregonian, April 29, 1934

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Article Text

OLD DOCUMENTS FOUND Bank Receiver Seeking Owners of Many Forgotten Papers. BURNS. Or., April 28.-(Special.) Disposal of a large number of papers and personal possessions left with the now suspended First National bank of Burns for safekeeping during the concern's 30 years of operation is creating quite in liquidation, according to Herbert Champneys, receiver. Mr. Champneys, who this week took over the receivership following resignation of G. McGuire Pierce, stated there is revealed by records that 421 people have left various with the bank and failed to call for them. -possibly most of these have left the community or died, while others may have bad memories. The collection includes deeds, stocks and bonds, wills, insurance policies and a profuse miscellany of less ordinary An effort is being made to locate the people who have intrusted these things with the bank


Article from Albany Democrat-Herald, December 12, 1934

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Article Text

Game Men Attend Santiam Club's Annual Dinner Meeting Members of the state game commission were guests last night at the annual business meeting and banquet of the Santiam Fish and Game propagating and protective association, held at the Ash Swale Hunt club. members, from various parts of One hundred and sixty Linn county, attended the body's gathering, at which the annual election of officers was held. Harry A. Howe, Lebanon, was named president, Dent Stewart of the Riverside community vice Merwin O. Wilkinson of and Albany was renamed secretary-treasurer. The "liar"s belt' 'went to Verne Reeves Lebanon. Harvey Wight, Lebanon attorney, conferred the honor humorous address that drew gales of applause. Brown Presides Attorney for Receiver Charles Carlson of Ash Swale, close contender for the belt, fol- Confers on Hearing lowed in short talk, congratuof Injunction lating Reeves on his prowess. Addresses were made by Matt Corrigan of McMinnville, state Oscar Hayter. Dallas, attorney chairman, Carl Silver of Baker, Dr. Hif- for Bryant, receiver for the Burns and Dr Van- First National bank, here yesford of Bend, all of the state conferring with the county' devert George Griffith, attorneys in regard the hearing an injunction against the counforestry Willamette national forest super- scheduled Monday, Dec. 17, in Frank Stellmacher, federal court at Portland visor, former state lecturer The injunction prohibited the and former president of the county treasurer from selling Santiam fish and game men's curity given by the bank to group. tect county funds, other than enough cover his own account. troduced the visitors and presid- The bank receiver contends that during the business meeting. the sheriff's and clerk's accounts followed in the chair by unpreferred claims while the was Poland, for 26 years secre- county maintains they preferthe Ash Swale Hunt club. These total tary of red. accounts Deficit Now $47,000 The county has held up securstressed imAll the speakers ities totaling which the wild life the portance of alleges rightfully security for state an asset to be protected. disputed accounts. Bryant Discussion by the state commis- maintains that these securities are disclosed the value sion members properly general assets of the of the state's ten fish hatcheries bank. farms set at and two game declared Chairman Corrigan TO days commisthat in former in fees and licenses, received, YEARS PREDICTED which figure been reduced by anhas BY nually during the depression. He cited economies of operation being performed The mission's deficit at present $47,NEW 000, he said. pared speech, Secretary Labor rearing birds at the Coast Frances today told the farm each, Pendleton game New York board of trade that each, and at the Eugene within few days plan would old Corvallis farm $2.29 each, he be to President Roosestated. designed provide jobs for History Told of Corvallis The elimination farm probably game declared. presented two motion Griffith reels coast highway picture and Rogue river fishing scenery Stellmacher told the history of association from its inception with Judge Lewelin president. Other ling first Waldo presidents Dr. the late Murry Shanks, Prill, and others The Riverside community extended invitations for Lebanon the annual meeting. orchestra, Shedd, The Margason selections and readings gave Harrison Ash by George Swale given and Frank Bryant Riverside.