15985. Portland Savings Bank (Portland, OR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
August 1, 1907*
Location
Portland, Oregon (45.523, -122.676)

Metadata

Model
gpt-5-mini
Short Digest
ad68458d26380246

Response Measures

None

Description

Contemporary dispatch (1907) reports the suspension of the Portland, Oregon, Savings Bank with liabilities of about three million and blames inability to realize on assets. A later 1931 recollection references a receiver (Thompson) who cleaned up the affairs, indicating the bank was closed and wound up rather than resuming normal operations. No explicit run is described in the articles provided.

Events (2)
1. August 1, 1907* Receivership
Newspaper Excerpt
When the affairs Portland Savings were cleaned came Pendleton First National bank... Thompson the receiver worked for him worked for Judge Denny... the receiver worked for him worked for Judge Denny Denny had mind and with widow who more than 90 years old Portland. Denny and had Korea the officer bank during When the affairs Portland Savings were cleaned came Pendleton First National bank had worked Savings and house position bank had died being made Ankeny was president Matlock president Wade cashier Guernsey the bank bank for years During was time on the state fish and was chairman first fish and game West Marshal Kinney George Kelly Frank Klamath Falls about any other man one the men wheat and flour mills on Oregon went learned the French milling.
Source
newspapers
2. August 30, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to realize on assets — bank could not liquidate assets to meet obligations.
Newspaper Excerpt
THE dispatches announce the suspension of the Portland, Oregon, Savings Bank, with a list of liabilities of three millions.
Source
newspapers

Newspaper Articles (2)
1. August 30, 1907 The Newspaper Paonia, CO
Article from The Newspaper, August 30, 1907

Click image to open full size in new tab

Article Text

THE dispatches announce the suspension of the Portland, Oregon, Savings Bank, with a list of liabilities of three millions. Strange to say their trouble is alleged to be inability to realize on assets. When any other business fails it is usually credited to poor management or not enough money. Banks always have a sheet anchor out. Inability to realize on assets. To be sure they always know that if their depositors ask for their money in any considerable volume they will be unable to realize fast enough to meet the demand. They know that in proportion to the business transacted they do a greater percentage on borrowed capital than any other institution on earth. Their entire stock is money and practically all of it is borrowed in the form of deposits from the people. True, they do not ask for it. The people some way fall over one another to loan their money, without interest in many cases to a bank. There is a peculiar feeling of confidence on the part of the lender that he can get his money back and in many cases he does. His danger is in the contingency that too many of his associate lenders may desire their money at the same time. Without question this Portland institution was the depository for hundreds, perhaps thousands of the poor. They have lost out. The rich and prosperous depositor will be found to be partially if not wholly protected. The poor devil will lose all he has. Even if the bank is fairly safe, with actual assets to cover its debts, the day of settlement will be put off till some other shylocks can buy up the claims at from 25 to 50 cents on the dollar. Some day we may have postal savings banks. Then the people can have a really safe depository for their money. Until that time really prudent poor people who are striving to lay by a few dollars for their old age will do well to patronize the money order de partment of the postoffice. The cost is small and the safety is worth the price. When an amount

2. November 9, 1931 The Oregon Daily Journal Portland, OR
Article from The Oregon Daily Journal, November 9, 1931

Click image to open full size in new tab

Article Text

IMPRESSIONS AND OBSERVATIONS OF THE MAN Fred Lockley 11-9-31 "My father. Warren tled in Waldo in Charles Knox when interrecently in Pendleton father was Ohio in My grandfather. Island 1800 Illinois, the spring 1825 My Cranston Both grandfather grandmother Englanders. The name of my ther's wife was Susan Marsh married her on April 18, when about years After the my father's first whose went 1849 "Father started for in the 1850. but offered school teacher. taught the spring of 1851 putting in spare time studying his compass across the thinking handy survey claims. the lines for many Hills Mv and the plains with my father "My Phoebe the prothe Breyman Leather "My father had three and the Rev Baptist Salem son employed by the Chamber He made trip Hawaii looking up By father's second he had sister Lida Lida the Alameda Aid with headquarters my mother Fa. and Mary Clopton great Bishop charge Hall along the The principal Rodney Mrs Clopton teachers her daughter Maria lisher and Oregon mother wrote Jackson attended school what now Pratum Waldo Among my playmates were Frank, the Griffith and Stella Salem school Homer Davennot He and told anything didn't whether school Cal seatmates in school. King Hibbard was another of classmates in my school "In 1878 started to school at 1883 There were only three in our graduating Charley Gray and "Some time you want to get story the ecord Jennie the Waldo Hills think she was Oregon's piopheasant breeder used to feed the little pheasants She had pens for her baby pheasants meadow would constantly fresh She the Lewis He injured while wood our Something startled the they started He slipped over the of the wagon the wheel laden wagon over his the wagon by the before his plight disHe years but he from the graduating from Willamette East My man and Werner Breyworked there years and then with Frank Portland Savings bank was till when bank suspended Thompson the receiver worked for him worked for Judge Denny Denny had mind and with widow who more than 90 years old Portland. Denny and had Korea the officer bank during When the affairs Portland Savings were cleaned came Pendleton First National bank had worked Savings and house position bank had died being made Ankeny was president Matlock president Wade cashier Guernsey the bank bank for years During was time on the state fish and was chairman first fish and game West Marshal Kinney George Kelly Frank Klamath Falls about any other man one the men wheat and flour mills on Oregon went learned the French milling.