19338. Dexter Horton National Bank (Seattle, WA)

View Charter #9798 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
9798
Charter Number
9798
Start Date
January 31, 1917
Location
Seattle, Washington (47.606, -122.332)

Metadata

Model
gpt-5-mini
Short Digest
ae776617b04e9885

Response Measures

Accommodated withdrawals, Public signal of financial health, Books examined

Description

Articles (late Jan 1917) report a slight run on Dexter Horton National Bank amid a broader panic after the closing of Northern Bank and Trust Co. The bank remained open and was described as able to meet demands; no suspension or closure is reported.

Events (2)
1. June 27, 1910 Chartered
Source
historical_nic
2. January 31, 1917 Run
Cause
Local Banks
Cause Details
Panic following the closing of the Northern Bank and Trust Company and runs on several local banks led to a slight run on Dexter Horton.
Measures
Seattle clearing house and outside banks offered support; bank reported able to pay out cash as fast as tellers could count it.
Newspaper Excerpt
There is a slight run on the Dexter Horton National bank, the strongest instituation in the Northwest
Source
newspapers

Newspaper Articles (3)
1. January 31, 1917 The Seward Gateway Seward, AK
Article from The Seward Gateway, January 31, 1917

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Article Text

SEATTLE IS IN GRIP OF FREAK PANIC, FEDERAL RESERVE TO AID BANKS SEATTLE, Wednesday.-Following the run of yesterday, the German-American bank did not open for business today and the Fremont State bank, a small suburban institution closed its doors at noon. The former bank is among the small institutions of the city and was not in a position to meet instant demands for SO much cash, although able to pay out fully. Up to 1:30 o'clock this afternoon offers of cash assistance had been tendered to the Seattle banks by outside institutions in case of need which totaled several hundred millions. San Francisco bankers offered to put $50,000,000 in cash on a special train. Strong support was forthcoming early today for all local banks which have been in any way affected by the closing of the Northern Bank and Trust company yesterday morning. The Seattle clearing house gave notice this morning that all solvent banks, whether members of the clearing house or not, will be given support. This announcement strengthened the situation among the bankers considerably, and it is believed that all but the weakest institutions will be able to get by without outside assistance. The freakishness of the situation is seen in the fact that there is a slight run on the Dexter Horton National bank, the strongest instituation in the Northwest, which carries the largest cash reserve west of Chicago, and north of San Francisco. It is estimated that this bank can pay out cash as fast as the teller can count it for weeks. There is also a slight run on the aNtional Bank of Comnerce, which is almost as strong. The run started yesterday on the People's Savings continues and there is quite a run at the ScandinavianAmerican bank. The officials have examined both of these banks recently and report them perfectly sound. All of the banks with the exception of three are experiencing a heavy rush of business today but for some reason for which there is no apparent cause there is not the slightest excitement around the Seattle National, Union Savings & Trust Company or Bank of Califronia.

2. January 31, 1917 The Alaska Daily Empire Juneau, AK
Article from The Alaska Daily Empire, January 31, 1917

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Article Text

BANKS ARE SOUND SEATTLE Jan. 31. - Persistent runs kept up until closing time this afternoon on the Peoples Savings Bank and the Scandinevion-AAmeri can bank. At the latter bank the line of those wishing to withdraw extended from the paying teller's window into Second Avenue and down to James street. The majority of those in line are foreigners. Both institutions are regarded as absolutely sound. T here have been no runs on the Seattle National, Union Savings & Trust and Bank of California and very slight runs on the Bank of Commerce and the Dexter-Horton bank.

3. February 1, 1917 The Wrangell Sentinel Wrangell, AK
Article from The Wrangell Sentinel, February 1, 1917

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Article Text

BANKS ARE SOUND SEATTLE. Jan. 31.-Persistent runs kept up until closing time this afternoon on the Peoples Savings Bank, and the ScandinaAt the vian-American bank. latter bank the line of those wishing to withdraw extended from the paying teller's window into Second avenue and down to James street. The majority of those in line are foreigners. Both institutions are regarded as absolutely sound. There have been no runs on the Seattle Na. tional. Union Savings & Trust and Bank of California, and very slight runs on the Bank of Commerce and the Dexter-Horton bank.