19417. Spokane National Bank (Spokane, WA)

View Charter #3838 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3838
Charter Number
3838
Start Date
August 6, 1889
Location
Spokane, Washington (47.659, -117.426)

Metadata

Model
gpt-5-mini
Short Digest
2659b2e860f8cf2b

Response Measures

None

Receivership Details

Depositor recovery rate
93.7%
Date receivership started
1891-02-03
Date receivership terminated
1895-01-22
OCC cause of failure
Fraud
Share of assets assessed as good
61.2%
Share of assets assessed as doubtful
37.0%
Share of assets assessed as worthless
1.8%

Description

Articles show Spokane National resumed business after the 1889 fire (vaults opened), but by Dec 1890 the bank had failed. There is no mention of a depositor run; coverage describes a failure of the institution (long shaky) rather than a run. Therefore this is a suspension/closure (failure) without a reported run.

Events (4)
1. January 24, 1888 Chartered
Source
historical_nic
2. August 6, 1889 Other
Newspaper Excerpt
All a banks have resumed. The eight bank vaults were opened today and found to be in perfect condition. The time lock in the Exchange National bank was still running when the vault was opened today.
Source
newspapers
3. December 1, 1890* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as 'long been shaky' and experienced a failure; insolvency/poor management rather than rumor or contagion appears to have caused suspension/closure.
Newspaper Excerpt
The fact that the Spokane National was in difficulty a year ago... The failure was the universal topic of conversation... they did not feel warranted in trying to carry an institution that had been conducted upon lines so foreign to their notions of banking.
Source
newspapers
4. February 3, 1891 Receivership
Source
historical_nic

Newspaper Articles (2)
1. August 7, 1889 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 7, 1889

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Article Text

Spirit of Her Citizens Not Broken. PAIRER CITY WILL ARISE. Substantial ANd Pouring In-As Is. Rex of Thieves-List of the Lesses. Brokane FALLS, Aug. 6.-The exdifement over the fire of Sunday has about died away and everbody has to work. Business and profesdenal men are putting up tents and into temporary quarters. All a banks have resumed. They resurned business wherever they could And quarters. The eight bank vaults were opened today and found to be in perfect condition. The time lock in the Exchange National bank was still running when the vault was opened today. There was great excitement this morning when the First National, Traders' National and Spokane Natfonal each purchased lots at the corher of Riverside and Howard streets, paying the aggregate sum of $100,000, the highest price ever paid for real mate here. NO ONE CAST DOWN. Everybody is encouraged. Contracts are being let at once for new buildings. No more frame buildings for the business portion of Spokane is the universal sentiment. INFESTED WITH THIEVES. Thieves are coming in from the surrounding country and towns, but a double guard will be put on tonight. Company G. Second regiment, is still on guard a d doing good duty. Litthe trouble has been experienced as yet and this morning as unknown man was refused permission to cross the line when he drew a pistol on the guard, who charged him with the bayonet, running it into the man's wrist. WORK OF THE BELIEF COMMITTEE. The Walla Walla company guards are not needed and will not come. The relief committee have put up a tent where all the destitute can obtain food. There has been no suffering whatever. Every one appreciates the situation and puts up with the best obtainable. Not a foot of property within the burned district can be purchased a dollar less than before the fire. Citisens are beginning to look upon the calamity as fruitful of good results and are strengthened by the confidence exhibited by outside capitalists telegraphing money for building purposes. Letters of condolence pour in from every quarter. Money and provisions are being sent. LIST OF LOSSES. Following is the list of the sufferers and losses of the fire as they could be

2. December 18, 1890 Spokane Falls Review Spokane, Spokane Falls, WA
Article from Spokane Falls Review, December 18, 1890

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Article Text

# CONFIDENCE UNSHAKEN. The Other Banks Are Solid and There Is No Danger. While the failure was the universal topic of conversation among all classes, confidence in the solidity of the city's finances was not shaken in the least. There were no runs upon other banks, and even if there had been those institutions are in the best of shape to meet the demands of their customers. A thorough understanding exists among the bankers of the city. They did not feel warranted in trying to carry an institution that had been conducted upon lines so foreign to their notions of banking, but they stand ready at a moment's notice to help any other bank that might possibly be placed under the strain of a run. The business community has kept its faculties with admirable coolness, and there is not the slightest disposition to attempt to strain the solid institutions because one that has long been shaky has gone to the wall. The fact that the Spokane National was in difficulty a year ago, just at the time when money was most plentiful and business at its liveliest stage, has exerted an influence in the way of strengthening confidence in the solidity and conservatism of the other banks. In one way the failure of the Spokane National has strengthened all the other banks. The suspicion and knowledge that the institution had long been in a