20360. Commercial Bank (Hermosa, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 30, 1896
Location
Hermosa, South Dakota (43.840, -103.191)

Metadata

Model
gpt-5-mini
Short Digest
a94ed442

Response Measures

None

Description

The Commercial Bank in Hermosa closed its doors (suspended) and an assignee/receiver (David Sisk) was appointed; articles link the closing to the failure of the National Bank of Illinois rather than a depositor-driven run or rumor. Date of closing inferred from newspaper text: Wednesday before Jan 1, 1897 => 1896-12-30. No reopening reported.

Events (2)
1. December 30, 1896 Suspension
Cause
Correspondent
Cause Details
Closed on account of the National Bank of Illinois failing, which injured the Commercial Bank and other local banks.
Newspaper Excerpt
The Commercial Bank at Hermosa failed on Wednesday of last week.
Source
newspapers
2. January 2, 1897 Receivership
Newspaper Excerpt
David Sisk, of Keystone, has been appointed assignee, and it is now believed that depositors will be made nearly whole, as the deposits and cash on hand is said to amount to nearly $8,000. (Custer Weekly Chronicle, 1897-01-02). Closes its Doors. The Commercial Bank of this place closed its doors on Wednesday on account of the National Bank of Illinois going to the wall. (articles).
Source
newspapers

Newspaper Articles (4)
1. January 1, 1897 The Black Hills Union Rapid City, SD
Article from The Black Hills Union, January 1, 1897

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Article Text

Otto Anderson left on Monday evening for Pierre to attend to his duties as a servant of the dear people. Turn out at the Bryan club quarters on Saturday night and help start the campaign work of 1900 going. Stand up! Christmas, though much like June SO for as weather was concerned, was generally celebrated by the different church organinzations. Stein Bangs is running an assay office at Deadwood. He is one of Rapid City's bright boys, a school of mines graduate, and deserv es success. Several hunting parties are out in the Hills now. Some report bagging a good many deer and an occasional silver tip bear falls a victim to the wily gunner. The Commercial Bank at Hermosa failed on Wednesday of last week. Crooked work is charged and the matter will be sifted to the bottom, as seversl stockmen and others in that locality were caught for considerable in the shape of deposits. The Symphony Club was royally entertained by Mrs. J. F. Balle nger at her home on Thursday evening. Those present were G.S. Congnon, Chas. Stewart, Art. W. Gird and Miss Corinne Larimore, Mrs. Art W. Gird, Miss Edith Tonner Miss Lottie Wallace. The Methodist young people held a most enjoyable entertainment at the home of Mrs. J. B. Dickover on Wednesday evening in the way of a 'railroad social.' The festive peanut vendor was on hand, as was every thing else incident to rail-way travel. An enjoyable time W as had by the large crowd in attendance. The irrigation meeting at Sturgis on the 29th and 30th was well attended and a profitable session held. The meeting next year will be held in Rapid City. Messrs. Boland, Flick, Gardner, Tallent and McGee left on Wednesday evening for Pierre. Miss Cornelia Beach left or Sunday evening for Eastern Dakota and Minnesota-

2. January 2, 1897 Custer Weekly Chronicle Custer, SD
Article from Custer Weekly Chronicle, January 2, 1897

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Article Text

Closes its Doors. The Commercial Bank of this place closed its doors on Wednesday on account of the National Bank of Illinois going to the wall. The National Bank ranked the second largest national bank in the entire west. and its management was generally believed to be along the most conservative lines. The creditors of the Commercial Bank will hold a meeting at 2 p. m. on Saturday for the purpose of appointing a committee to try and resume business. There are several other banks in the Hills which was also injured more or less by the closin8 of the National Bank of Illinois. -Pilot. From parties up from Hermosa yesterday, says the Rapid Journal of last Tuesday, it is learned that no little excitement has been occasioned there over the failure of the local bank run by M. R. Maxson, which institution closed ts doors last week. It is stated that the depositors have attempted to get a statement from Mr. Maxson but were unable to do so. The deposits amounted to between seven and eight thousand o Hars. Among those who had money deposited in the institution are Richard Avant $600 or $700, Mrs. Pelter $300. Chet Mills $300, Mr. Sanborg $320, Jack Daly $1100, Grant & Gandy about $800 or $900 each, besides several others. It is believed by many that the money is purposely withheld and as a consequence the depositors will leave no stone unturned to secure it. Mr. Maxson had intended to leave for the east on Sunday evening but was persuaded by several citizens to remain. Later advices from Hermosa, indicate the adjustment of the affairs of the Commercial bank at that place. David Sisk, of Keystone, has been appointed assignee. and it is now believed that depositors will be made nearly whole, as the deposits and cash on hand is said to amount to nearly $8,000.

3. January 2, 1897 Custer Weekly Chronicle Custer, SD
Article from Custer Weekly Chronicle, January 2, 1897

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Article Text

Closes its Doors. The Commercial Bank of this place closed its doors on Wednesday on account of the National Bank of Illinois going to the wall. The National Bank ranked the second largest national bank in the entire west. and its management was generally believed to be along the most conservative lines. The creditors of the Commercial Bank will hold a meeting at 2 p. m. on Saturday for the purpose of appointing a committee to try and resume business. There are several other banks in the Hills which was also injured more or less by the closing of the National Bank of Illinois. -Pilot. From parties up from Hermosa yesterday, says the Rapid Journal of last Tuesday, it is learned that no little excitement has been occasioned there over the failure of the local bank run by M. R. Maxson, which institution closed ts doors last week. It is stated that the depositors have attempted to get a statement from Mr. Maxson but were unable to do so. The deposits amounted to between seven and eight thousand o llars. Among those who had money deposited in the institution are Richard Avant $600 or $700, Mrs. Pelter $300. Chet Mills $300, Mr. Sanborg $320, Jack Daly $1100, Grant & Gandy about $800 or $900 each, besides several others. It is believed by many that the money is purposely withheld and as a consequence the depositors will leave no stone unturned to secure it. Mr. Maxson had intended to leave for the east on Sunday evening but was persuaded by several citizens to remain. Later advices from Hermosa, indicate the adjustment of the affairs of the Commercial bank at that place. David Sisk, of Keystone, has been appointed assignee. and it is now believed that depositors will be made nearly whole, as the deposits and cash on hand is said to amount to nearly $8,000.

4. January 2, 1897 Custer Weekly Chronicle Custer, SD
Article from Custer Weekly Chronicle, January 2, 1897

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Article Text

Closes its Doors. The Commercial Bank of this place closed its doors on Wednesday on account of the National Bank of Illinois going to the wall. The National Bank ranked the second largest national bank in the entire west. and its management was generally believed to be along the most conservative lines. The creditors of the Commercial Bank will hold a meeting at 2 p. m. on Saturday for the purpose of appointing a committee to try and resume business. There are several other banks in the Hills which was also injured more or less by the closin8 of the National Bank of Illinois. -Pilot. From parties up from Hermosa yesterday, says the Rapid Journal of last Tuesday, it is learned that no little excitement has been occasioned there over the failure of the local bank run by M. R. Maxson, which institution closed ts doors last week. It is stated that the depositors have attempted to get a statement from Mr. Maxson but were unable to do so. The deposits amounted to between seven and eight thousand o llars. Among those who had money deposited in the institution are Richard Avant $600 or $700, Mrs. Pelter $300. Chet Mills $300, Mr. Sanborg $320, Jack Daly $1100, Grant & Gandy about $800 or $900 each, besides several others. It is believed by many that the money is purposely withheld and as a consequence the depositors will leave no stone unturned to secure it. Mr. Maxson had intended to leave for the east on Sunday evening but was persuaded by several citizens to remain. Later advices from Hermosa, indicate the adjustment of the affairs of the Commercial bank at that place. David Sisk, of Keystone, has been appointed assignee. and it is now believed that depositors will be made nearly whole, as the deposits and cash on hand is said to amount to nearly $8,000.