gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
10483d254db274cf
Response Measures
Full suspension, Books examined
Other: Bank president requested appointment of a receiver (Comptroller appointed bank examiner James D. Bradley as receiver) and the bank closed its doors; receivership took charge to stop the run.
Receivership Details
Depositor recovery rate
77.6%
Date receivership started
1908-11-20
Date receivership terminated
1910-04-16
OCC cause of failure
Fraud
Share of assets assessed as good
54.6%
Share of assets assessed as doubtful
41.9%
Share of assets assessed as worthless
3.5%
Description
President Grant Hornaday's name is variably OCR'd (Hernaday/Hornaday) in articles.
Events (5)
1.January 10, 1871Chartered
Source
historical_nic
2.November 19, 1908Run
Cause
Rumor Or Misinformation
Cause Details
Run attributed to malicious reports spread by enemies of the bank.
Measures
Depositors withdrew funds over two days; president requested appointment of a receiver.
Newspaper Excerpt
the closing followed a run on the bank yesterday, when depositors withdrew $56,000.
Source
newspapers
3.November 20, 1908Receivership
Source
historical_nic
4.November 20, 1908Receivership
Newspaper Excerpt
Comptroller of the Currency... appointed James D. Bradley, bank examiner, as receiver of the First National Bank of Fort Scott, Kansas, upon receipt of a telegram from President Hornaday asking that a receiver be appointed owing to a run on the bank which has lasted two days.
Source
newspapers
5.November 20, 1908Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank closed and requested a receiver following a run provoked by malicious reports; receiver (J.D. Bradley) appointed by Comptroller of the Currency.
Newspaper Excerpt
The First National Bank of Fort Scott closed its doors today... Washington authorities have been asked to send a receiver.
Source
newspapers
Newspaper Articles (22)
1.November 20, 1908The Washington TimesWashington, DC
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FORT SCOTT BANK CLOSES ITS DOORS Head of Institution Orders Closing and Asks for Receiver. FORT SCOTT, Kan., Nov. 20.-The First National Bank, of. Fort Scott, today closed its doors, upon orders of President Grant Hornaday, and the Washington authorities have been asked to send a receiver to take charge. The liabilities are given as $662,000: the book assets, $789,000, and capital stock, $100,000. It is feared the failure will involve other concerns. Grant Hornaday, the president, is reputed to be a millionaire, and says all his property will go to pay the loss.
2.November 20, 1908The Daily Gate CityKeokuk, IA
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KANSAS BANK ASKS FOR RECEIVER Closed on Orders of President Horna. day Who Asks Washington to Send a Receiver. FORT SCOTT. Kan., Nov. 20.-The First National bank today closed on orders of President Grant Hornaday and Washington authorities have been requested to send a receiver. The liabilities are stated at $662,000 and the book assets reported at $789,000. capital stock $100,000. The bank had extensive dealings here and in the surrounding towns and it is not known what effect the failure will have. Hornaday is reputed a millionaire and has declared his whole private fortune will be used to protect the bank loss.
FORT SCOTT BANKER ASKS FOR RECEIVER Rush Started by Malicious Reports Spread by Enemies Continued For Two Days. Fort Scott. Kan. Nov. 20.-First National bank of this city, one of the oldest in the state closed doors today. Depositors number about 2000 and the bank had deposits of $702,000. President Grant Hernaday said assets exceeded liabilities $127,000. Failure, he said. was caused by malicious reports spread by enemies.
4.November 20, 1908Santa Fe New MexicanSanta Fe., Santa Fe, NM
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RUN ON KANSAS BANK FORCES IT TO SUSPEND Fort Scott, Kan., Nov. 20.-The spread by enemies of the bank. Comptroller Names a Receiver. First National Bank of this city, one Washington, Nov. 20.-Comptroller of the oldest banks in the state, clos- of the Currency Murray today appointJames T. federal bank ed its doors today. The depositors ed Bradley, examiner, as receiver of the First Nanumber about 20,000 and the bank had tional Bank of Fort Scott, Kansas, deposits of $750,000. President Grant upon receipt of a telegram from President Hornaday, asking that a receivHornaday said the assets exceeded the er be appointed, owing to a run on liabilities by $127,000. The failure he the bank for the past two days. The said was caused by malicious reports bank has a capital of $100,000.
5.November 20, 1908Evening Times-RepublicanMarshalltown, IA
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Article Text
ENEMIES START BANK RUN. /Cause Closing of Doors of First National at Fort Scott. Fort Scott, Nov. 20.-The First National Bank of Fort Scott, one of the oldest banks in the state, closed its doors this morning. The bank had deposits of $702,000 and the closing followed a run on the bank yesterday. President Hernaday stated the failure is the result of malicious reports spread by enemies of the bank, and said the bank's assets exceed the liabilities by $127,000. Depositors, he said, will be paid in full.
6.November 20, 1908Evening Times-RepublicanMarshalltown, IA
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Article Text
RECEIVER CHECKS BANK RUN. Appointed at Request of Ft. Scott, Kas., Bank President. Washington, Nov. 20.-Comptroller of Currency Murray, today appointed James D. Bradley, bank examiner, receiver of the First National bank of Ft. Scott, Kas. This action was taken upon the receipt of a telegram from President Hornaday asking that a receiver be appointed, owing to a run on the bank, which has lasted for two days. The bank's capital is $100,000, according to the last report, and it had a surplus of $25,000.
7.November 20, 1908Lewiston Evening TellerLewiston, ID
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FORT SCOTT BANK CLOSED PRESIDENT SAYS THAT MALICIOUS REPORTS BY ENEMIES WAS THE CAUSE-RECEIVER APPOINTED. Fort Scott, Kan., Nov. 20.-The First National Bank of Fort Scott closed its doors today, following a run yesterday, when the depositors withdrew $56,000. President Honaday says a malicious report spread by enemies is responsible and that the assets will exceed the liabilities by $127,000 and the depositors will be paid in full. J. D. Bradley has been appointed receiver by the controller of the currency at Washington.
8.November 20, 1908The Spokane PressSpokane, WA
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Article Text
BANK SUSPENDS FORT SCOTT, Kas., Nov. 20.The First National bank of this city closed its doors today by order of President Grant Hornaday. The Washington authorities were requested to appoint a receiver. The liabilities are $662,000 and the assets $789,000. The cause of the failure was not announced. President Hornaday declared his private fortune would protect the depositors.
9.November 20, 1908The Barre Daily TimesBarre, VT
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FORT SCOTT BANK CLOSED ITS DOORS Entire Fortune of Its President May Be Wiped Out, and Others May Be Involved in the Collapse. Fort Scott, Kan., Nov. 20.-The First National Bank here closed its doors today on order of President Hornaday. Washington has been asked to send a receiver. The liabilities are about $500,000. It may wipe out President Hornaday's fortune, and may involve many others.
10.November 20, 1908Rock Island ArgusRock Island, IL
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Article Text
FT. SCOTT, KAN., BANK GOES UNDER First National with $100,000 Capital Unable to Stand a Two Days' Run. Washington, Nov. 20.-Controller of the Currency Murray today appointed James D. Bradley, bank examiner, receiver for the First National bank of Fort Scott, Kan. Action was taken upon receipt of a telegram from President Hornaday asking that a receiver be appointed owing to a run on the bank which has lasted two days. The bank has a capital of $100,000 and according to the last report had a surplus of $25,000.
11.November 21, 1908Bryan Morning EagleBryan, TX
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Article Text
Bank Closes Doors. Fort Scott, Kan., Nov. 20.-First National bank, one of the oldest in the state, has closed its doors. Deposits are $702,000, its capital stock is $100, 000 and surplus $25,000. There was a two days' run on it. Bank Examiner Bradley has, at the request of the bank's officers, been appointed receiver.
12.November 21, 1908Los Angeles HeraldLos Angeles, CA
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Article Text
NATIONAL BANK OF FORT SCOTT CLOSED OFFICIAL SAYS MALICIOUS RUMORS ARE TO BLAME Two Thousand Small Merchants Had Deposits in Suspended Institution. Crowd Surrounds Building. President Hopeful FORT SCOTT, Kas., Nov. 20.-The First National bank of Fort Scott, one of the oldest banks in the state, closed its doors this morning. The bank had deposits of $702,000. The closing followed a run on the bank yesterday when depositors withdrew $56,000. Grant Hornaday, the president, in a statement issued today stated that the failure was the result of malicious reports spread by enemies of the bank. He said the bank's assets exceeded the liabilities by $127,000 and that the depositors would be paid in full. The depositors number about 2000, many of them small merchants. A crowd of depositors gathered about the bank building this morning, but there was no demonstration. Comptroller of the Currency Murray appointed James D. Bradley, bank examiner, as receiver of the bank. The bank, according to the last report, had a surplus of $25,000.
13.November 21, 1908New-York TribuneNew York, NY
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KANSAS BANK SHUTS DOOR. Closing Follows Run-President Says Depositors Will Be Paid in Full. Washington, Nov. 20.-Lawrence O. Murray. Controller of the Currency, to-day appointed James D. Bradley, bank examiner, as receiver of the First National Bank of Fort Scott. Kan. This action was taken upon receipt of a telegram from President Hornaday asking that a receiver be appointed, owing to a run on the bank, which has lasted two days. The bank has a capital of $100,000. according to the last report, and a surplus of $25,000. Fort Scott. Kan., Nov. 20.-The First National Bank of Fort Scott. one of the oldest in the state, closed its doors this morning. The bank had deposits of $702,000. The closing followed a run on the bank yesterday. when depositors withdrew $56.000. Grant Hornaday, the president, in a statement this morning, stated that the failure was the rey sult of malicious reports spread by enemies of the bank. He said that the bank's assets exceed the liabilities by $127,000. and that the depositors would be paid in full.
14.November 23, 1908University MissourianColumbia, MO
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SPIRIT OF THE NEWS The First National Bank of Fort Scott, known throughout Kansas as "Grant Hornaday's bank," has closed its doors. The bank has lost in deposits since the panic of last year. There was a run on the bank for two days, which necessitated the closing of the doors. Announcement was made to depositors. that 50 per cent of the dividends would be paid by January 1, and the balance in three or four months. Only the stockholders, it is said, will lose anything. Grant Hornaday was a banker-politician and is a prominent man throughout Kansas. He has been "mentioned" several times as a candidate for governor, and was a candidate for Congress several years ago. He was always known as a member of the "machine." Hornaday has lived in Kansas since 1876. He has done much for the town of Fort Scott, it being full of "Hornadays Institutions." The failure of his bank has caused much surprise in that section of the country.
RECEIVER FOR KANSAS BANK Appointment Follows Run on the Institution. Washington, Nov. 21.-Comptroller of the Currency Murray has appointed James D. Bradley, bank examiner, as receiver of the First National bank of Fort Scott, Kan. This action was taken upon receipt of a telegram from President Hornaday asking that a receiver be appointed owing to a run on the bank which has lasted two days. The bank has a capital of $100,000 and, according to the last report, had a surplus of $25,000. Fort Scott, Kan., Nov. 21.-The First National bank of Fort Scott, one of the oldest banks in the state, has closed its doors. The bank had deposits of $702,000. The closing followed a run on the bank. Grant Hornaday, the president, stated that the failure was the result of malicious reports spread by enemies of the bank. He said that the bank's assets exceed the liabilities by $127,000 and that the depositors would be paid in full.
16.November 26, 1908River Falls JournalRiver Falls, WI
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GENERAL NEWS. The lives of more than 500 persons were imperiled in New York harbor when the fruit steamer Admiral Dewey, inward bound from Jamaica, crashed into the steamer Mount Desert, outward bound from Bay Ridge for the fishing banks. There were no casualties. The Democratic national,committee received in all $620,644.77 and spent $619,410.06 during the recent presidential campaign, leaving a balance in hand of $1,234.71. Fire in a mine at Red Lodge, Mont., caused the death of nine miners. Scores of others were rescued with great difficulty. Juniors in the Grand Rapids, Mich., Veterinary college struck because two colored students were admitted in accordance with a court ruling. Robbers in Attica, O., held several citizens at bay, blew open the safe of a store and escaped with $6,000. Herbert Grigg, alleged accomplice of Cline Wheeler and Walter Zeller in the murder of William Read at Vineland, N. J., was arrested in Philadelphia. Following a two days' run, a receiver was appointed for the First Nationat bank of Fort Scott, Kan. Mrs. Alphia M. Shevalier, convicted of perjury in connection with the Horn will case, was sentenced to five years in prison by Judge Lincoln Frost at Lincoln, Neb. Lewis Fletcher was hanged at Charlotte, N. C., for the murder of George Boyd. Both were negroes. The balloon Yankee, which sailed from St. Louis in an effort to win the Lahm cup, failed to do so, landing near Tiger, Gaw after traveling 375 miles.
17.November 26, 1908The Plymouth TribunePlymouth, IN
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Bank Breaks Following Run. The First National Bank of Fort Scott. Kan., one of the oldest banks in the State, closed its doors Friday morning. The bank had deposits of $702,000. The closing followed a run on the bank, during which depositors withdrew $56,000.
TELEGRAPHIC BREVITES. Sixteen Chinese were killed and sev. eral injured Sunday night in a wreck on the Chinanfu and Tsingtau railroad. In St. Louis 61 "Ild-lifting" clubs were raided and 832 men were arrest ed and hauled to the various police stations. Charles H. Grasty, formerly of Kan. sas City and later of the Baltimore News, has purchased a half interest in the St. Paul Dispatch. An explosion in a 5-cent theater in Chicago, caused a panic among the audience and one man and four wom en were dangerously injured. One German workman and 30 Chi nese were killed Monday, as the result of an accident in the works of a Ger man mining company near Hungshan, China, W. L. Pickrell, a resident of Otta wa, Kan., since 1865, and widely known in that part of the state, was fond dead in bed. Heart disease was the cause, Because he was crowded in an aisle at a "Holy Roller" church in Wichita Kan., "Spider" McCune stabbed and fatally injured Loney Thomas, a 16 year-old boy. The state of Kansas had $10,375.70 on deposit in the failed First National bank of Fort Scott, which is secured by $20,000 worth of municipal bonds . which the state treasurer holfsWeekle Reflector
19.November 27, 1908The Montgomery TribuneMontgomery City, MO
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FORT SCOTT BANK CLOSED. President Hornaday Asks for Receiver for National Institution. Fort Scott, Kan. - The First National bank of Fort Scott Friday closed its doors upon the orders of President Grant Hornaday, and the Washington authorities have been asked to send a receiver to take charge. The liabilities are stated at $662,000 and book assets are given at $789,000 and a capital stock of $100,000. Hornaday, the president, is reputed to be a millionaire, and says all his property will go to pay losses if necessary. He is conspicuous in Kansas politics.
20.December 3, 1908Iowa County DemocratMineral Point, WI
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Milwaukee to Beaver Dam. The party is working eastward. The First National bank of Fort Scott, Kansas, one of the oldest banks in the state, closed its doors. The bank had deposits of $702,000. The closing followed a run on the bank when depositors withdrew $56,000. It is stated on what seems good authority that negotiations are pending for the sale of the lines of the Kenosha Electric Railway company, owned by A. C. Frost of Chicago and Milwaukee fame, to John I. Beggs of Milwaukee. Scarcity of water for the boilers has caused a suspension of three washeries and four collieries of the Lehigh Valley Coal company in the Shenandoah district, throwing over 2,000 men and boys out of employment. The city authorities of Chippewa Falls ordered "Old Billy," a horse employed by the fire department for over twenty years, sent to the poorhouse for the remainder of his life. A special pension fund for the support of the horse has been created by the council. Heavy rail shipments of logs are being received by the Marinette saw mills and within a few weeks it is expected that special trains will be run on the Milwaukee and the Wisconsin and Michigan roads to accommodate the traffic. Following close upon the action of the city council of Fond du Lac ordering the removal of all but two telephones in the city hall, and these two to be on a party line, the board of supervisors ordered the removal of half of the telephones in the county buildings. A raise in rates is responsible for the action.
21.December 19, 1908The Topeka State JournalTopeka, KS
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A Chance for the Depositors. Fort Scott, Kan., Dec. 19.-John Watts, receiver of the failed First National bank here, has announced that the doors of the bank would be opened Monday, December 21, for the filing of the claims of depositors against the institution. The government allows three months for the filing of these claims. The bank was closed November 18. There was on deposit at that time $490,000. The bank has 2,000 depositors.
22.August 9, 1909The Topeka State JournalTopeka, KS
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GRANT HORNADAY IS SUED. Receiver of Defunct Fort Scott Bank Brings Sult for $200,000. Fort Scott, Kan., Aug. 9.-In the federal court here the suit of Receiver John Watts of the defunct First National bank against Grant Hornaday, Charles Love, H. L. Page, C. F. Miller, John G. Lunz, E. A. Currier, E. L. Penniman and C. M. Howard, directors and officers of that institution, an action to recover $200,000 alleged to have been lost to the bank through acts of negligence on their part, was filed. The petition with exhibits covers hundreds of pages of manuscript, and is the longest ever filed in a local court. The petition alleges not only acts of negligence, but also the falsifying of statements made of the bank's condition, excessive loans to the directors and institutions which they were interested in, the failure on the part of the directors to demand a bond of the officers in charge of the bank, that dividends were declared and paid after the bank was in an insolvent condition, which condition existed from 1906 and on to the time of the failure during which time numerous dividends were paid amounting to a total of sixteen thousand dollars.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
