18358. Bank of Commerce (Oregon City, OR)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
April 10, 1931
Location
Oregon City, Oregon (45.357, -122.607)

Metadata

Model
gpt-5-mini
Short Digest
a79ddf01

Response Measures

Full suspension, Books examined

Description

Multiple April 10, 1931 articles report a heavy run caused by damaging reports; directors closed the bank and affairs were placed with the State Superintendent of Banks. A later Sept. 11, 1931 notice indicates liquidation completed by consolidation with the Bank of Oregon City (consolidation dated Aug 31). OCR typos corrected (e.g., 'Schramh' -> Schramm).

Events (3)
1. April 10, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Run was precipitated by 'damaging reports' (rumors/misinformation) leading depositors to withdraw large amounts.
Measures
Directors closed the bank to protect depositors; notices on doors informed depositors affairs were in hands of Superintendent of Banks Schramm.
Newspaper Excerpt
A heavy run on the bank the past few days was due to damaging reports, during which heavy cash withdrawal was made
Source
newspapers
2. April 10, 1931 Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors closed the bank after heavy withdrawals caused by damaging reports; affairs turned over to state superintendent.
Newspaper Excerpt
The Bank of Commerce here failed to open its doors today. Notices on the doors informed the depositors the affairs of the bank were in the hands of Superintendent of Banks Schramm.
Source
newspapers
3. August 31, 1931 Other
Newspaper Excerpt
Liquidation of the Bank of Commerce of Oregon City was completed by consolidation with the Bank of Oregon City August 31.
Source
newspapers

Newspaper Articles (4)
1. April 10, 1931 Corvallis Gazette-Times Corvallis, OR
Article from Corvallis Gazette-Times, April 10, 1931

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Article Text

Bank of Commerce at Oregon City Is Closed OREGON CITY, April 10.-(AP) The Bank of Commerce here failed to open its doors today. Notices on the doors informed the de- DRESSES positors the affairs of the bank were in the hands of Superintendent of Banks Schramm. A heavy run on the bank the past few days was due to damaging reports, during which heavy cash withdrawal was made, and the desire to pro- groups tect depositors was given as the reason for the action. The last statement showed depos- $1175 its of $952,000 and resources $1,234,000. John R. Humphreys was

2. April 10, 1931 The World Coos Bay, OR
Article from The World, April 10, 1931

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Article Text

Run Blamed for Bank's Closing SALEM, Ore., April 10.-(UP) -Heavy withdrawal of deposits during Thursday was responsible for directors closing the Bank of Commerce at Oregon City today, state bank department officials said. A. A. Schramm, state superintendent of banks, was in session with directors of the bank at Oregon City Thursday night. The bank was chartered in 1915, and according to its last financial statement carried deposits of $952,000 and resources of $1,234,000.

3. April 10, 1931 The Daily Inter Lake Kalispell, MT
Article from The Daily Inter Lake, April 10, 1931

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Article Text

OREGON CITY BANK CLOSES ITS DOORS TO PROTECT DEPOSITORS DAMAGING REPORTS CAUSE RUN ON BANK OF COMMERCE AND RESULT IN HEAVY CASH WITHDRAWALS -AFFAIRS OF BANK PUT IN HANDS OF THE STATE BANK EXAMINER (Bv Associated Press) Oregon City, Ore., April 10.-The Bank of Commerce here failed to open its doors today. Notices on the doors informed the depositors that the affairs of the bank were in the hands of Superintendent of Banks Schramh. There was a heavy run on the bank the past few days due to damaging reports during which heavy cash withdrawals were made, and the desire to protect the depositors was given as the reason for the action. The last statement showed deposits of $952,000, and resources of $1,234,000. John R. Humphreys is president of the bank.

4. September 11, 1931 The Daily Astorian Astoria, OR
Article from The Daily Astorian, September 11, 1931

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Article Text

At present, 124 state savings and foreign banks and trust companies are operating in the state. But one has failed since June 30. For the nize same period. national banks in Oregon have dropped from 91 to 88. The drop of three was caused by failure and two consolidations. Twenty state banks are now in process of liquidation, many of the failures having occurred in At the beginning of this year, 17 were in liquidation. Affairs of the Sheridan state were September Liquidation of the Bank of Commerce of Oregon City was completed by consolidation with the Bank of Oregon City August 31. Five of the closures have ocurred since January Three state banks have consoli dated with other institutions since the first of the year. Consolidations of existing banks are favored by Schramm, superintendent of the department. school "An unprofitable bank should not continue in business because menace society and the integrity of tatives. Schramm Oregon is declining constantly in number of banking institutions. In 1927. were 158 state banks, 150 in but 142 in and 135 in 1930 National banks numbered 95 in 1927. then stayed constant at 94 until this year. Cities and towns in Oregon having total deposits of $500,000 or more according to records compiled to July numbered 48. Portland was the first with 23 banks reporting deposits of $167.Astoria with three banks had posits totaling Time and savings deposits in Ore gon banks have increased since 1910 when $23,590.91 were entered to $128,311,117.91 at beginning of this year. On June 30. 1931. the deposits had declined to