Article Text
TEXAS BANK FAILS. Washington, Jan. 18.-The comptroller of the currency today was advised by telegram that the officers of the American National Bank of Abilene, Texas, have closed the bank. R. L. Van Zant has been appointed receiver.
21027. American National Bank (Abilene, TX)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 7028
- Charter Number
- 7028
- Start Date
- January 18, 1905
- Location
- Abilene, Texas (32.449, -99.733)
Metadata
- Model
- gpt-5-mini
- Short Digest
900f4fb9
Response Measures
None
Receivership Details
- Depositor recovery rate
- 64.3%
- Date receivership started
- 1905-01-18
- Date receivership terminated
- 1910-03-31
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 38.9%
- Share of assets assessed as doubtful
- 16.0%
- Share of assets assessed as worthless
- 45.1%
Description
Officers closed the American National Bank and a receiver (R. L. Van Zant/Van Zandt/Vansandt in OCR variants) was appointed on Jan 18, 1905. Articles mention both failure of correspondents to accept renewals and 'street talk' (gossip) that precipitated the closing. No article describes a depositor run prior to closure; closure led to receivership and later indictments.
Events (5)
1.
October 30, 1903
Chartered
- Source
- historical_nic
2.
January 18, 1905
Receivership
- Source
- historical_nic
3.
January 18, 1905
Receivership
- Newspaper Excerpt
- R. L. Van Zandt has been appointed receiver.
- Source
- newspapers
4.
January 18, 1905
Suspension
- Cause
- Correspondent
- Cause Details
- Officers cited failure of correspondents to accept renewals for rediscounts and damaging 'street talk' (gossip) that precipitated the closing; both correspondent nonacceptance and local rumor contributed.
- Newspaper Excerpt
- The comptroller of the currency today was advised by telegram that the officers of the American National Bank of Abilene, Texas, have closed the bank. R. L. Van Zant has been appointed receiver.
- Source
- newspapers
5.
May 20, 1905
Other
- Newspaper Excerpt
- Indictments related to the affairs of the American National bank of Abilene, which is now in the hands of a receiver. Three men indicted for violating national banking laws and three for conspiracy to violate U.S. laws.
- Source
- newspapers
Newspaper Articles (12)
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Article Text
Abilene Bank Closed. Washington, Jan. 18.-The comptroller of the currency today advised that officers of the American National Bank of Abilene, Texas closed the bank. A receiver was appointed.
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Article Text
TEXAS BANK CLOSED. Controller of the Currency Notified From Abilene. The controller of the currency today was advised by telegram that the officers of the American National Bank of Abilene, Texas, have closed the bank. R. L. Van Zandt has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the date of its last report of condition to the controller's office, November 10, 1904: Resources-Loans and discounts, $226,340; overdrafts, $3,522; bonds and premium, $79,500; banking house, $10,000; due from banks and bankers, $52,388; cash and cash items, $10,481; redemption fund, $3,750. Total, $454,983. Liabilities-Capital stock, $75,000; surplus and profits, $11,344; circulation, $75,000; due to banks and bankers, $52,627; deposits, $133,735; notes and bills rediscounted, $100,275; bills payable, $7,000. Total, $454,983.
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Article Text
Bank Closes at Abilene, Texas. Washington, Jan. 18.-The comptroller of the currency today was advised by telegram that the officers of the American National bank of Abilene, Tex., have closed the bank. R. L. Vansandt has been appointed receiver.
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Article Text
BING DRAWN IE ORIENTAL WAR TEXAS BANK CLOSED. RE THAT The American National of Abilene in END Hands of Receiver. Washington, D. C., Jan. 18. The comptroller of the currency was today advised that the officers of the American National bank of Abilene, Tex., had closed the bank CHINA A receiver has been appointed.
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Article Text
Capital Jottings. The House committee on ways and means, Wednesday, fixed Monday next to open the hearings on the Philippine tariff bill. The hearings will continue throughout the week. The comptroller of the currency. Wednesday. was advised by telegraph that the officers of the American National Bank of Abilene. Tex., have closed the bank. R. L. Van Zandt has been appointed receiver. The House commitee on election or President. Vice President and representatives in Congress. Wednesday, favorably reported the bill introduced by Representative Clark of Mossouri. adding the secretary of agriculture and the secretary of commerce and labor to the line of Presidential succession. The Senate committee on appropriations. Wednesday. completed consideration of the fortifications appropriation bill and reported it to the Senate. No change was made in the amount as appropriated by the House, $7,518,192.. but an amendment was adopted to the effect that hereafter all estimates for fortifications for the insular possessions of the United States shall be made and submitted to Congress in detail for each place. Representative Littlefield of Maine, Wednesday, introduced a bill empowering the commissioner of navigation to issue a register for any vessel built in a foreign country whenever such vessel shall be wrecked in the United States and shall be purchased and repaired by a citizen of the United States, providing it be shown that the repairs, exclusive of salvage, are equal to threefourths of the appraised value of the vessel when SO repaired. Any vessel admitted to American registry, pursuant to this provision. however, which shall engage in the coasting trade or fisheries of the United States shall be subject to forfeiture.
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Article Text
Texas Bank Closed. Washington. Jan. 19.-The comptroller of the currency Wednesday was advised by telegram that the officers of the American national bank, of A bilene, Tex.. have closed the bank. R. L. Van Zandt has been appointed receiver.
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Article Text
BANK CLOSES AT ABILENE, TEXAS, TEMPORARILY MANAGEMENT INTIMATES THAT IDLE STREET GOSSIP IS LARGELY RESPONSIBLE. DEPOSITORS ARE ALARMED Stated That Depositors Will Be Paid in Full-That Suspension of Business Is Only Temporary-Stocknn of Section Excited. Abilene, Texas, Jan. 23.-The failure of the American National Bank has caused considerable expitement among the stockmen of this section of the country, although the directors of the institution claim that is is only a temporary embarrassment, and that the bank will resume business soon and all depositors will be paid in full. On the day that the bank closed the following statement was published on the doors of the institution: "To Whom It May Concern: "Abilene, Tex., Jan. 18.-The failure of our correspondents to accept renewals for rediscounts and street talk of some of our citizens detrimental to the good of the bank precipitated the closing of the American National bank, whose remaining duty was to notify the comptroller of the currency. which was deemed the best method for all concerned. Depositors will be paid in full. "O. W. STEFFENS, "J. G. LOWDEN, "W. J. THOMPSON."
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Article Text
Texas Bank Closed. The comptroller of the currency at Washington was Wednesday advised that the officers of the American National Bank of Abilene, Tex., had closed the ank. A receiver was appointed.
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Article Text
Texas Bank Closed. The comptroller of the currency at Washington was Wednesday advised that the officers of the American National Bank of Abilene, Tex., had closed the ank. A receiver was appointed.
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Article Text
BANKERS INDICTED. This Action Taken Against Six Prominent West Texas Men. Dallas, May 19.-The special Federal grand jury called at the request of United States Attorney Atwell last Tuesday, adjourned Friday shortly after 10 o'clock. It handed in cix indictments against prominent west Texas bankers. The indictments were immediately turned over to the United States attorney, who refused to divulge names of parties. It is known that the investigation had to do with the affairs of the American National bank of Abilene, which is now in the hands of a receiver. Mr. Atwell stated that three of the men were indicted on a charge of violating national banking laws and the other three charged with conspiracy to violate United States laws. The penalty for violating national banking laws is not less than five nor more than ten years' imprisonment, while for conspiracy to violate United States laws fines range from $1000 to $10,000 and imprisonment for not more than two years.
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BANKERS INDICTED. This Action Taken Against Six Prom. inent West Texas Men. Dallas. May 20.-The special Federal grand jury called at the request of United States Attorney Atwell last Tuesday, adjourned Friday shortly after 10 o'clock. It handed in six in dictments against prominent west Texas bankers. The indictments were immediately turned over to the United States attorney. who refused to divulge names of parties. It is known that the investigation had to do with the affairs of the American National bank of Abilene. which is now in the hands of a receiver. Mr. Atwell stated that three of the men were indicted on a charge of violating national banking laws and the other three charged with conspiracy to violate United States laws. The penalty for violating national banking laws is not less than five nor more than ten years' imprisonment. while for conspiracy to violate United States laws fines range from $1000 to $10,000 and imprisonment for not more than two years.