21232. First National Bank (Nederland, TX)

View Charter #6596 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6596
Charter Number
6596
Start Date
January 26, 1905
Location
Nederland, Texas (29.974, -93.992)

Metadata

Model
gpt-5-mini
Short Digest
41844a88

Response Measures

None

Receivership Details

Depositor recovery rate
95.0%
Date receivership started
1905-01-26
Date receivership terminated
1909-07-12
OCC cause of failure
Losses
Share of assets assessed as good
6.4%
Share of assets assessed as doubtful
59.1%
Share of assets assessed as worthless
34.4%

Description

Multiple contemporary reports (Jan 26–27, 1905) state the Comptroller ordered the First National Bank of Nederland closed and Examiner Williams (Christopher L. Williams) appointed receiver. Articles mention insolvency and a protested draft; some note the recent receivership of the Nederland rice mill likely caused withdrawals. No article describes a depositor run prior to closure.

Events (4)
1. January 28, 1903 Chartered
Source
historical_nic
2. January 26, 1905 Receivership
Source
historical_nic
3. January 26, 1905 Receivership
Newspaper Excerpt
Examiner Williams has been appointed receiver.
Source
newspapers
4. January 26, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed by the Comptroller upon receipt of a telegram from National Bank Examiner Williams reporting the bank insolvent and upon information that the bank's draft had been protested; contemporaneous accounts note withdrawals after the Nederland rice mill was placed in receivership (the bank a creditor).
Newspaper Excerpt
The First National Bank of Nederland was ordered closed at noon today by the comptroller ... Examiner Williams has been appointed receiver.
Source
newspapers

Newspaper Articles (11)
1. January 27, 1905 Evening Star Washington, DC
Article from Evening Star, January 27, 1905

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Article Text

TEXAS BANK CLOSED. Examiner Williams Named as Receiver of Nederland Banking House. The First National Bank of Nederland, Texas, was ordered closed yesterday afternoon. It is generally conceded that the depositors will be taken care of. The putting of the Nederland rice mill in the hands of a receiver last week probably had an effect, It is asserted, as it caused many deposits to be withdrawn, the bank being one of the creditors. The bank was closed by the controller of the currency upon the receipt of a telegram from Examiner Williams that the bank is insolvent, and upon information from other sources that Its draft has been protested. Examiner Williams has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business November received: 10, 1904, the date of the last report Resources-Loans and discounts, $32,171; overdrafts $3,932; United States bonds and premium, $7,603; banking house, furniture and fixtures. $7,136; due from banks and bankers, $4,477; cash and cash items, $1,274; redemption fund, $350; total, $56,945. Liabilities-Capital, $25,000; surplus and

2. January 27, 1905 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, January 27, 1905

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Article Text

TEXAS BANK CLOSED, The First National of Nederland Declared Insolvent. Washington, Jan. 26.-The First National bank of Nederland, Texas, has been closed by the comptroller of the currency upon the receipt of a telegram from National Bank Examiner Williams that the bank is insolvent and upon information from other sources that its draft has been protested. Examiner Williams has been appointed receiver. The statement of the resources and liabilities of the bank at the close of business November 10,1904, the date of the last report received, gives the resources at $56,945, including loans and discounts $62,171, and cash items, $1,274. The capital was $25,000, deposits, $13,167, and surplus, $673.

3. January 27, 1905 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, January 27, 1905

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Article Text

Texas Bank Failed. WASHINGTON. Jan. 27.-The Firs National bank of Nederland. Tex., ha een closed by the comptroller of the urrency upon the receipt of a tele ram from National Bank Examine Villiams that the bank is insolven nd upon information from othe ources that its draft has been prote 1. Examiner Williams has been as inted receiver.

4. January 27, 1905 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, January 27, 1905

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Article Text

Texas Bank is Insolvent. Washington, Jan. 27.-The First National Bank of Nederland, Texas, has been closed by the comptroller of the currency upon the recepit of a telegram from National Bank Examiner Williams that the bank is insolvent. Examiner Williams has been appointed receiver.

5. January 27, 1905 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, January 27, 1905

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Article Text

BANK IS CLOSED. Believed That Depositors of Texas Institution Will Be Taken Care Of. Beaumont, Tex., January 26.-The First National Bank of Nederland was ordered closed at noon today by the comptroller and Christopher L. Williams, receiver of the Citizens National bank of this city, has been placed in charge. No accurate information is obtainable here tonight as to the extent of the losses, but it is generally conceded that the depositors will be taken care of. The putting of the Nederland rice mill in the hards of a receiver last week probably had an effect it is asserted, as it caused many deposits to be withdrawn, the bank being one of the creditors. The capital stock of the bank was $25,000. It owned $7000 in government bonds, a banking house worth $7000 including equipments.

6. January 27, 1905 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, January 27, 1905

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Article Text

Texas Bank Failed. WASHINGTON, Jan. 27.-The First National bank of Nederland, Tex., has been closed by the comptroller of the currency upon the receipt of a telegram from National Bank Examiner Williams that the bank is insolvent and upon information from other sources that its draft has been protested. Examiner Williams has been appointed receiver.

7. January 28, 1905 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, January 28, 1905

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Article Text

Another Fank Fails in Texas. Washington, Jan. 27.-The First National Bank of Nederland, Tex., has been closed by the comptroller of the currency on the receipt of a telegram from National Bank Examiner Williams that the bank is insolvent and upon information from other sources that its draft has been protested. Examiner Williams has been appointed receiver.

8. January 28, 1905 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, January 28, 1905

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Article Text

C. L. Williams Made Receiver. Beaumont, Tex., Jan. 26.-The First National Bank of Nederland was ordered closed at noon today by the Controller and Christopher L. Williams. receiver of the Citizen's National Bank of this city, has been placed in charge. No accurate information is obtainable here tonight as to the extent of the losses but it is generally conceded that the depositors will be taken care of. The putting of the Nederland rice mills in the hands of a receiver last week probably had an effect, It is asserted, as it caused many deposits to be withdrawn. the bank being one of the creditors. The capital stock of the bank was $25,000. It owned $7,000 in government bonds, a banking house worth $7,000 including equipments.

9. January 28, 1905 Bryan Morning Eagle Bryan, TX
Article from Bryan Morning Eagle, January 28, 1905

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Article Text

Texas Bank Closed. Washington, Jan. 27.-The First N:# tional bank of Nederland, Tex., has been closed by the comptroller of the currency on the receipt of a telegram from National Bank Examiner Williams that the bank is insolvent and upon information from other sources that its draft has been protested. Examiner Williams has been appointed receiver,

10. February 1, 1905 Ceredo Advance Ceredo, WV
Article from Ceredo Advance, February 1, 1905

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Article Text

An explosion of 300 pounds of dyna mite at the Shoenberger plant of the American Steel and Wire Co., Pittsburg, brought painful injuries to 40 persons, temporarily disabled 15 resi dences and broke at least 2,500 windows. Nearin Hanoon, mother of Chekib Bey, minister of Turkey in this country, is dead at the Turkish legation in Washington. The First National bank of Nederland, Tex., was ordered closed by the controller and Christopher L. Williams, receiver of the Citizens' National bank, of this city, has been placed in charge. The armored cruiser Maryland attained on her official trial trip an average speed of 22.305 knots an hour, thereby exceeding her contract requirement of 22 knots. Four railway employes were killed in a collision on the Nashville, Chattanooga & St. Louis railroad near Tullahoma, Tenn. Gov. Davis, of the canal zone, reports that a determined effort is being made to stamp out the yellow fever in Panama. An increased force of men is now engaged in mosquito extermination work. Capt. J. H. V. Trigg, aged 63, a native of Indianapolis, died suddenly at Duluth, Minn., from liver complaint. The sale of water colors and oil paintings of the art collection formed by Thomas E. Waggaman, of Washington, at Mendelssohn hall, New York, realized $223,225. Former Gov. James H. Peabody denied a report that he intended to withdraw his contest for the governorship or that he had been approached with any proposition for a compromise. In the Nebraska state senate a bill was introduced to abolish capital punishment. The bill is simple, substituting life sentence for the optional death penalty which the jury may recmomend. At Nogales, Fred Walters, gambler, entered a saloon and killed three men wounded another and committed suicide. He had formerly been employed there and was discharged. D. M. Parry, president of the National Manufacturers' association. says the manufacturers will oppose the bill introduced by Representative Jenkins to regulate the use of injunction suits in labor troubles. A Lehigh Valley locomotive of the compound type drawing a freight train exploded at Chalwick, N. Y. Three engineers were killed and a fireman seriously injured. Practically the entire Tennessee leg. islature will go to Washington March 4 in a special car to participate in the inaugural parade. Advices from throughout the Flori da orange belt show that of 500.000 boxes of oranges and grape fruit re maining on the trees about 75 per cent. has been frozen and made un saleable. News of the death of Gen. Christian T. Christensen, of Brooklyn, at Copen hagen, Denmark, was received. Gen Christensen served throughout the civil war, participating in the first and last battles. The Montana senate passed the house resolution memorial zing congress to submit to the people a con stitutional amendment providing for the election of United States senators by direct vote of the people. Gadsden and Attala, Ala., experi enced an earthquake shock during the night. Many citizens were awakened In some instances glassware was thrown from tables. In a fire in Westchester avenue New York, two small children were burned to death and one was seriously injured. All three were the children of Louis Saxon, who lived or the third floor. A small group of nobles of Inst tute of Moscow has prepared a petition ask ing Emperor Nicholas to convoke a

11. February 2, 1905 The Gold Leaf Henderson, NC
Article from The Gold Leaf, February 2, 1905

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Article Text

THE GOLD LEAF. THURSDAY, FEBRUARY 2, 1905. A WEEK'S NEWS CONDENSED. Tuesday, January 24. The Countess Buxhoewden, nee Mc. Knight, of Bordentown, N. J., died at Nice, France. The New Hampshire Hotel, at Atlantic City, was destroyed by fire, entailing a loss of $10,000. King Victor Emanuel has conferred the Grand Cordon of the Crown of Italy on Whitelaw Reid, of New York. J. Mahlon Barnes, a cigarmaker, of Phtiladelphia, has been elected national secretary of the Socialist party, with headquarters at Chicago. Mrs. Rachel Peters, an octogenarian and inmate of the almshouse at York, Pa., was burned to death while alone in her room at the institution. Wednesday, January 25. Nathan B. Scott has been re-elected United States senator by the West Virginia legislature. The 28th annual meeting of the Pennsylvania state board of agriculture was held at Harrisburg. Colonel Theodore S. Barton, formerly senior vice commander-in-chief of the G. A. R., died at Providence, R. I. The Retail Grocers' Association held their national convention at Cincinnati, with 3000 delegates in attendance. Mrs. Ella Greeley, 25 years old, of Lickingville, Clarion county, Pa., is charged with killing her 6-year-old son by cutting his throat with a razor. Thursday, January 26. A bill absolutely prohibiting collegiate football as a felony was introduced in the Nebraska legislature. Captain William Carter, once a famous horseman and millionaire. died penniless in New York from apoplexy. The Texas legislature has elected Charles A. Culberson, Democrat. so succeed himself in the United States senate. Charles Bonier, aged 76 years, has been convicted for the second time of murder for killing Granz Frehr, at Buffalo, N. Y. Zacharias T. Lair, a trackman on the Pennsylvania Railroad, was struck by a freight train during a snow storm at Bi d-in-Hand, Lancaster county, Pa., and instantly killed. Friday, January 27. The First National Bank of Nederland, Tex., has been closed and a receiver appointed. William F. Frick, aged 87 years, the oldest member of the Baltimore bar, died from bronchitis. The next national convention of the Reail Grocers' Association will be held at Niagara Falls, N. Y. The Union Ex-Prisoners of War Association of Pennsylvania held their annual meeting at Wilkesbarre, with over 100 veterans present. Charles Lockhart, at one time president of the Standard Oil company, died after a long illness at Pittsburg. His wealth was estimated at from $75,000,000 to $100,000,000. Saturday, January 28. Julius Cooper, colored, was hanged at Annapolis, Md., for the murder of George Harris, also colored. Charles D. Sims, general manager of the B. & O. railroad, with headquarters at Baltimore, has resigned. Four trainmen were killed in a collision of freight trains on the Nashville railroad near Tullahoma, Tenn. William Farraday, a laborer, dropped dead from heart disease at Atlantic City, N. J., while shovelling snow. During a fire in a veterinary hospital at Baltimore, Md., William B. Wilmer, a Civil War veteran, was burned to death. Monday, January 30. The Lewis and Clark Exposition at Portland, Ore., will be open on Sunday. Damage claims filed against the owners of the burned steamer General Slocum aggregate SO far $1,475,673. Three small children of Mr. and Mrs. Lewis Saxon, of New York, were burned to death in a fire which destroyed their home. Anthony Bessi and Frank Gombrash, Reading railroad trackwalkers, were instantly killed by a freight train at Shamokin, Pa. One man was killed and six seriously injured by a premature explosion of dynamite on the Western Maryland railroad extension near Hancock, Md.