Deadwood National Bank - Deadwood, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3552
Charter Number: 3552
Start Date: June 11, 1894
Location: Deadwood, South Dakota (44.377, -103.730)

Metadata

Model: gpt-5-mini
Short Digest: 1ccc9870

Response Measures

None

Description

Articles report that Deadwood National turned its assets and deposits over to First National and closed their doors on June 11, 1894. No run is described; the action appears to be a consolidation/closure due to poor earnings and worthless securities (bank-specific adverse information). It is not described as a government receivership; the First National assumed deposits and checks.

Events (3)

1. August 30, 1886 Chartered

Source: historical_nic

2. June 7, 1894 Voluntary Liquidation

Source: historical_nic

3. June 11, 1894 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Failure to make money and possession of considerable almost worthless securities prompted the banks to turn assets and deposits over to First National and close their doors.
Newspaper Excerpt: The Merchants' National and the Deadwood National turned their assets and deposits over to the First National and closed their doors.
Source: newspapers

Newspaper Articles (3)

1. June 12, 1894 The Times Richmond, VA

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Article Text

National Banks Consolidate. DEADWOOD, S. D., June 11.-The consolidation of three national banks of this city was made Saturday, the Merchants' National and the Deadwood National turning their assets and deposits over to the First National and closed their doors. The First National will carry all checks of the old banks, and nobody will lose a dollar by the deal. Failure to make money and the possession of considerable almost worthless securities are assigned as the causes of the closing of the two institutions.

2. June 12, 1894 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, June 12, 1894

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Article Text

National Bank Consolidation. DEADWOOD, S. D., June 11.-The Merchants National and the Deadwood National banks, of this city, have turned their assets and deposits over to the First National Bank and closed their doors. The First, National will carry all the checks of the old banks, and nobody will lose a dollar by the deal. A failure to make money and the possession of considerable almost worthless securities are assigned as the causes of the closing of the two institutions.

3. June 12, 1894 The Morning News Savannah, GA

Article from The Morning News, June 12, 1894

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Article Text

BANKS GO OUT OF BUSINESS. Two Deadwood Institutions Turn Their Business Over to a Third. Deadwood, S.D., June 11.-The consolidation of three national banks of this city was made Saturday. The Merchants' National and the Deadwood National turned their assets and deposits over to the First National and closed their doors. The First National will carry all the hecks of the old banks and nobody will lose a dollar by the deal. Failure to make money and the possession of considerable almost worthless securities are assigned as the causes of the closing of the two institutions.