18459. First National Bank (Rockwall, TX)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
3890
Charter Number
3890
Start Date
January 11, 1894
Location
Rockwall, Texas (32.931, -96.460)

Metadata

Model
gpt-5-mini
Short Digest
9c02a643179cb288

Response Measures

None

Receivership Details

Depositor recovery rate
35.0%
Date receivership started
1892-07-20
Date receivership terminated
1896-03-31
OCC cause of failure
Fraud
Share of assets assessed as good
14.3%
Share of assets assessed as doubtful
36.2%
Share of assets assessed as worthless
49.6%

Description

Articles (Jan 11โ€“13, 1894) report George D. Morgan as receiver of the First National Bank of Rockwall and that he consulted the Comptroller โ€” indicates the bank was closed/placed in receivership. OCR corrected names (Morcan/Morwan -> Morgan; Eckeis -> Eckles). No mention of a depositor run; government appointment of receiver implies failure/closure.

Events (3)

1. May 29, 1888 Chartered
Source
historical_nic
2. July 20, 1892 Receivership
Source
historical_nic
3. January 11, 1894 Receivership
Newspaper Excerpt
George D. Morgan, receiver of the Ninth national bank at Dallas and the First national bank of Rockwall, was here today in consultation with Comptroller Eckles
Source
newspapers

Newspaper Articles (2)

Article from Fort Worth Gazette, January 14, 1894

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Article Text

TEXAS BANKS. Special Dispatch. Washington, Jan. 13.-George D. Morcan. receiver of the Ninth national bank at Dallas and the First national bank of Rockwall, was here today in consultation with Comptroller Eckles over the complicated condition of the affairs of the two banks. It is no secret that Morwan also has communications to make to the department of justice, which are intended to more materially settle affairs, Chandler and Williams. officers of the Rockwall bank. who were here to see the comprroller last week., have returned home.


Article from The Houston Daily Post, January 14, 1894

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Article Text

The Failed National Bank Washington, January 11.-Geo. I gan, receiver of the Ninth National at Dallas and the First National Reekwall, was here today in consi with Comptroller Eckeis over the cated condition of affairs of thes banks. It is no Secret that Morgan has communications to make to to partment of justice which are Intends more materially settle the affairs Messrs. Chandler and Williams, ficers of the Rockwall bank wb here to see the comptroller las have returned home.