First National Bank - Sumpter, OR

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 6547
Charter Number: 6547
Start Date: June 1, 1904*
Location: Sumpter, Oregon (44.746, -118.202)

Metadata

Model: gpt-5-mini
Short Digest: ed2f069c

Response Measures

Capital injected

Description

Article (1905-04-13) reports that several runs were made upon the First National Bank of Sumpter when cashier Roy H. Miller was discovered short; outside parties came to the rescue and collapse was avoided. The runs appear to have occurred around June 1904 (article says another bank closed last June and the runs were contemporaneous). No suspension or permanent closure of the First National is reported.

Events (3)

1. December 20, 1902 Chartered

Source: historical_nic

2. June 1, 1904* Run

Cause: Bank Specific Adverse Info
Cause Details: Shortages by cashier Roy H. Miller and related mismanagement/defalcation at the bank triggered loss of confidence and multiple runs.
Measures: Baker City parties and others provided support/rescue funds to prevent collapse.
Newspaper Excerpt: there were several runs made upon the First National, but Baker City parties and others came to the rescue and a collapse was avoided.
Source: newspapers

3. February 26, 1916 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. April 13, 1905 East Oregonian : E.O Pendleton, OR

Article from East Oregonian : E.O, April 13, 1905

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Article Text

REQUISITION FOR MILLER. Aftermath From Failure of Bank of Sumpter. The affairs of the Bank of Sumpter hich closed its doors last June, after operating under the management of Roy H. Miller, as president, for something like four months, are to be ventilated after a lapse of nine months, says the Baker City Herald. Sheriff Harvey K. Brown left here Sunday morning for Salem; to secure the necessary requisition papers from Governor Chamberlain, and will go from there to Tonapah, where he expects to place Miller under arrest. For six months past Miller has been bookkeeper at Bela Kadish's sampling vorks at Tonapah. The steps which are now taken are the outgrowth of indictments found by the recent grand jury of Baker county. The Bank of Sumpter, a private institution, was established in 1899 by A. P. Goss, who had been in the business in Canyon City. Its capital was an unknown quantity, but Goss had the reputation of being wealthy and his loans and investments indicated this. But the business waned and he was for over a year, prior to last February, looking for a buyer. Just prior to that time Miller, who was cashier of the First National bank at Sumpter, had returned from an extended trip to various points and went into the latter institution. It was known that Miller was short in his accounts at the First National and Stoddard, who had been anxious to get in was even more so to get out. He held the whip hand and finally Scriber and others relieved him of his holdings. The odium of freaky finance had attached, however, and there were several runs made upon the First National, but Baker City parties and others came to the rescue and a collapse was avoided. Miller, in the meantime, was skirmishing to cover his own shortages, which involved the city of Sumpter, of which he was treasurer. This condition was not generally known, however, until later. Miller had known that Goss wanted to sell, in fact was becoming more anxious each day, and through the kindly offices of C. H. McCulloch and J. W. Connela, the deal was put through, Goss taking some paper, a $1000 account, and leaving in the vault $4200. Miller said then that he was buying the bank for other parties, but by a system of bookkeeping that Expert G. P. Clark of Portland, has declared to outrival Oriental legerdemain, that $4200 got into the First National bank. About this time Miller disappeared. The cashier, S. H. Durgan, went over to the First National and the First National's bookkeeper, Walter B. Swackhammer, was in charge. This condition prevailed for a few days and A. P. Goss was seen to be behind the counter wearing a worried look. He served but two days, and on the Monday morning following, a notice signed by C. H. McCulloch, as trustee,