Article Text
SAN ANTONIO BANK SUSPENDS. San Antonio, Nov. 7.-The Woods National bank of this city suspended shortly after noon today.
21272. Woods National Bank (San Antonio, TX)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 7316
- Charter Number
- 7316
- Start Date
- November 7, 1907
- Location
- San Antonio, Texas (29.424, -98.494)
Metadata
- Model
- gpt-5-mini
- Short Digest
a185f786
Response Measures
None
Receivership Details
- Depositor recovery rate
- 97.5%
- Date receivership started
- 1907-11-09
- Date receivership terminated
- 1912-10-31
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 68.1%
- Share of assets assessed as doubtful
- 28.6%
- Share of assets assessed as worthless
- 3.3%
Description
Contemporary dispatches (Nov 7, 1907) report the Woods National Bank suspended by directors during the money stringency; statements say the bank was 'practically solvent' but could not secure funds from eastern correspondent banks. Subsequently a receiver (H. N. Morris) handled liquidation and dividends were declared, and the cashier Will F. Woods was later convicted of embezzlement. No article describes a depositor run prior to suspension, so this is classified as a suspension that led to permanent closure/receivership.
Events (5)
1.
June 25, 1904
Chartered
- Source
- historical_nic
2.
November 7, 1907
Suspension
- Cause
- Correspondent
- Cause Details
- Directors cited the money stringency and inability to secure funds from eastern and other banks with which they had balances, and inability to get cash from securities; action taken to protect depositors.
- Newspaper Excerpt
- By order of the Board of Directors ... the Woods National Bank of this city suspended shortly after noon today.
- Source
- newspapers
3.
November 9, 1907
Receivership
- Source
- historical_nic
4.
April 23, 1908
Receivership
- Newspaper Excerpt
- The comptroller of currency this morning notified H. N. Morris, receiver of the Woods National Bank, to prepare to pay a dividend of 40 per cent to the creditors of the bank.
- Source
- newspapers
5.
January 1, 1909*
Other
- Newspaper Excerpt
- Will F. Woods, erstwhile cashier of the defunct Woods National Bank, was taken to the Leavenworth federal penitentiary ... result of his conviction on a charge that he had misappropriated the funds of the institution he was connected with.
- Source
- newspapers
Newspaper Articles (14)
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Texas Bank Suspends. San Antonio, Tex., Nov. 7.-By order of the Board of Directors of the institution, the Woods National Bank of this city suspended shortly after noon today.
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TEXAS BANK CLOSED. The President Says It Was Done to Protect Depositors. San Antonio, Texas, Nov. 8.-By order of the board of directors, the Woods National bank suspended yesterday. This statement was given out by W. w. Collier, president of the bank: "Our directors took this action to protect our depositors. On account of the money stringency and our failure to secure our money from eastern and other banks with which we had balances as well as inability to secure cash from our securities, we deemed this action wise and necessary. Our bank is practically solvent and we expect every depsitor will be paid when we can learn our assets."
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TEXAS BANK SUSPENDS. San Antonio, Tex., Nov. 7.-By order of the board of directors of the institution the Woods National Bank of this city suspended today. The liabilities statement of August 22 last shows a capital and surplus of $215,862, circulation $200,000; deposits $1.292,256.
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News of the Day. A terrible explosion of two cars of powder near Nesozari, Ariz., late yeaterday killed ten men. The men killed were employees of the Montezuma Copper Company. The government yesterday sold the frigate Saratoga to a Boston firm which will break her up for junk. The price was $3,212. The old trigate was built at Kiytery, Me., in 1843. The Borough Bank of Brooklyn was t day declared solvent by the State bank examiners. The Borough Bank will open for business within the next few days. President Maxwell and Cashier Campbell will resign. Democratic leaders in Baltimore are already discussing plans for eliminating the negro vote, and there is but little doubt that one of the fruits of Tuesday's democratic victory will be the disfranchising of the colored man. A newspaper of Liege, Belgium, declared yesterday upon the authority of & high official that King Leopold may possibly abdicate rather than give into the Belgian parliament in the question of the Congo independent State. The bodies of Mrs. Eliza Nugent and Mi had Cantlin, of Wilkesbarre, Pa., an aged couple, who were married Wednesday night, were found deadin their room at the Hotel Weies yesterday. They had been suffocated by escaping illuminating gas, having either blown it out or else accidentally turned it on. The whipping post was resorted to in Canton, Miss., yesterday, Joe Shaw a negro, received 100 lashes on tho back. The whipping was public, occuring in front of the mayor's office. Afterward the man was put on a train and told not to return. He had threatened to klll white men. Ex-President Palma, of Cuba, is quoted as saying: "I do not hesitate to declare that it is a hundred times better for our beloved Cuba to be in a dependent political situation in which liberty is prevailing than in a republic independent of a sovereigo, but discredited and ruined by blasting periodical civil strifes." O. H. Lanihan, of Anaconda, Mont., a striking lineman, was sentenced by United States Judge Hunt, at Butte, yesterday, to four months in the county jail for an assault upon 8 nonunion lineman in the employ of the Rocky Mountain Bell Telephone Company. Matthew T. Plunkett, arraigned on the same charge, was sentenced to three months in jail. By order of the board of directors of the institution the Woods National Bank, of San Antonio, Texas, suspended shortly after noon yesterday. W. W. Collier, president of the bank, said, later: "Our bank of directors took this action, in order to protect out depositors. Our board is practically solvent, and we expect every depositor will be paid in full just as soon as we can realize on our assets." The union telegraphers, of Baltimore, at a meeting yesterday voted to "suspend" the strike and advised those who have been on strike to apply for reinstatement. Many followed this advice The Western Union officials says that they are considering the case of each applicant individually. The Washington striking telegraphers have not yet applied for reinstatement to their old jobs. They are awaiting more detailed in. structions from the national executive committee at Chicago. According to officials of the two telegraph companies there are few vacancies in the office there and but few reinstatements are possible.
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Texas Bank Suspends By Associated Press. SAN ANTONIO, Texas, Nov. 7.-The Woods National bank of this city suspended shortly after noon today.
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Bank Suspends Payment. San Antonio, Nov. 7.-Woods National bank has suspended payment. The statement is made that It is sol vent.
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NEWS OF THE WORLD SHORT DISPATCHES FROM ALL PARTS OF THE GLOBE. A Review of Happenings in Both Eastern and Western Hemispheres During the Past Week-Nationai, Historical, Political and Personal Events. The Woods National bank has suspended at San Antonio, Texas. Silas Reid has been appointed judge of the district court of Alaska. Engineer Thomas Hancock and Fireman Claude R. McDonald were asphyxiated by gas from their engine in the Busk tunnel, nine miles west of Leadville, Col. The directors of the Bank of England have put up the minimum discount rate from 6 to 7 per cent. At Los Angeles, Cal., Judge Olin Wellborn, in the United States court, recently fined the Atchinson, Topeka & Santa Fe Railroad company $33,000 for rebating. Amsterdam-Minister of State Jonkheer Van Panhuys, his son, mayor of De Leek, and wives, were drowned recently while out driving, their carriage falling into the canal Hoogvhork during a dense fog. Four persons are said to have been burned to death and six others are missing and may have lost their lives i. a fire in Chicago Saturday. A seat on the New York stock exchange was sold Monday for $60,000, the lowest price recorded since 1904 when a seat was disposed of for $57 000. Rear Admiral Henry W. Lyon was retired from the navy Monday on a count of reaching the age limit. In a pistol duel at Reno, Nev., Police man Charles Brown was shot and pro ably fatally wounded by a trio of thugs Before he was shot Brown killed one of his assailants, and Archie Burrie, an employe of the Southern Pacific was shot in the side. Mr. and Mrs. William K. Vanderbilt Jr., have an heir. The baby is a boy. He will inherit fully $20,000,000 from his father's side of the house, and perhaps twice as much from his mother, S who was Miss Virginia Fair. More than 800 men are now engaged in construction work on the Rexfor branch, between Fernie and Michel, Γ B. C. Emperor William will see Secretary Taft at Osborne house, Isle of Wight, during the former's visit to England At Baltimore, Md., recently Mrs. Cornelia McKelvie twisted a United States flag into a rope and with it committed suicide by hanging herself to a door. At Muncie, Ind., the four-story building occupied by the Joseph Goddard wholesale grocery store and covering a quarter of a block, burned recently. Loss $200,000. The Roman Catholic church at Longue Point, probably the oldest church in the province of Quebec, was destroyed by fire recently. The loss was $75,000, with $16,000 insurance. Lumber is the only industry of eastern British Columbia whose condition is not satisfactory. The mines are working a greater number of men and, with the rise in the price of copper and the expected rise in the price of lead and silver, more properties are yet opening. Advices from Rome say that Pope Pius is suffering from an attack of heart trouble. A hurricane swept over Marseilles recently, causing immense damage to docks and waterfront property. A self-propelling steam passenger coach, the first to be operated in the United States, is to be put in service this week on a branch of the Rock Island railroad. The car has made a trial trip from Chicago to Joliet and return. A speed of from 40 to 50 miles
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NEWS OF THE WORLD SHORT DISPATCHES FROM ALL PARTS OF THE GLOBE. A Review of Happenings In Both Eastern and Western Hemispheres During the Past Week-National, Historical, Political and Personal Events. The Woods National bank has suspended at San Antonio, Texas. Silas Reid has been appointed judge of the district court of Alaska. Engineer Thomas Hancock and Fireman Claude R. McDonald were asphyxiated by gas from their engine in the Busk tunnel, nine miles west of Leadville, Col. The directors of the Bank of England have put up the minimum discount rate from 6 to 7 per cent. At Los Angeles, Cal., Judge Olin Wellborn, in the United States court, recently fined the Atchinson, Topeka & Santa Fe Railroad company $33,000 for rebating Amsterdam-Minister of State Jonkheer Van Panhuys, his son, mayor of De Leek, and wives, were drowned recently while out driving, their carriage falling into the canal Hoogvhork dur ing a dense fog. Four persons are said to have been burned to death and six others are missing and may have lost their lives it a fire in Chicago Saturday. A seat on the New York stock exchange was sold Monday for $60,000, the lowest price recorded since 1904. when a seat was disposed of for $57, 000. Rear Admiral Henry W. Lyon wa retired from the navy Monday on a( count of reaching the age limit. In a pistol duel at Reno, Nev., Police man Charles Brown was shot and pro ably fatally wounded by a trio of thugs. Before he was shot Brown killed one of his assailants, and Archie Burrie, an employe of the Southern Pacific, was shot in the side. Mr. and Mrs. William K. Vanderbilt Jr., have an heir. The baby is a boy. He will inherit fully $20,000,000 from his father's side of the house, and perhaps twice as much from his mother, who was Miss Virginia Fair. More than 800 men are now engaged in construction work on the Rexfor branch, between Fernie and Michel, B. C. Emperor William will see Secretary Taft at Osborne house, Isle of Wight, during the former's visit to England. At Baltimore, Md., recently Mrs. Cornelia McKelvie twisted a United States flag into a rope and with it committed suicide by hanging hersel to a door. At Muncie, Ind., the four-story building occupied by the Joseph Goddard wholesale grocery store and covering a quarter of a block, burned recently. Loss $200,000. The Roman Catholic church at Longue Point, probably the oldest church in the province of Quebec, was destroyed by fire recently. The loss was $75,000, with $16,000 insurance. Lumber is the only industry of eastern British Columbia whose condition is not satisfactory. The mines are working a greater number of men and, with the rise in the price of copper and the expected rise in the price of lead and silver, more properties are yet opening. Advices from Rome say that Pope Pius is suffering from an attack of heart trouble. A hurricane swept over Marseilles recently, causing immense damage to docks and waterfront property. A self-propelling steam passenger coach, the first to be operated in the United States, is to be put in service this week on a branch of the Rock Island railroad. The car has made a trial trip from Chicago to Joliet and return. A speed of from 40 to 50 miles an hour was maintained over a greater part of the route. Professor Joseph H. Drake of the law department of the University of Michigan startled his class recently by declaring that he would favor electing Roosevelt king of his country. The students at first took the statement as a joke, but it was reiterated. and Professor Drake asserted that it was given with all seriousness and sincerity. At a monster open air demonstration in New York General Booth, founder of the Salvation Army, who has since sailed for Europe, bade his soldiers in this country and the American people generally farewell Saturday. By the arrest of Haynes Wimberly and Otis Mayes detectives have frustrated a plan to flood El Paso, Texas, with forged clearing house certificates.
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SUMMARY OF NEWS SHORT CONCISE ITEMS FROM DISPATCHES. NEARLY ALL PARTS OF THE WORLD represented HEREWITH. The Woods National bank has suspended at San Antonio, Texas. Silas Reid has been appointed judge of the district court of Alaska. Engineer Thomas Hancock and Fireman Claude R. McDonald were asphyxiated by gas from their engine in the Busk tunnel, nine miles west of Leadville, Col. The directors of the Bank of England have put up the minimum discount rate from 6 to 7 per cent. At Los Angeles, Cal., Judge Olin Wellborn, in the United States court, recently fined the Atchinson, Topeka & Santa Fe Railroad company $33,000 for rebating. Amsterdam-Minister of State Jonkheer Van Panhuys, his son, mayor of De Leek, and wives, were drowned recently while out driving, their carriage falling into the canal Hoogvhork during a dense fog. Four persons are said to have been burned to death and six others are missing and may have lost their lives in a fire in Chicago Saturday. A seat on the New York stock exchange was sold Monday for $60,000, the lowest price recorded since 1904. when a seat was disposed of for $57 000. Rear Admiral Henry W. Lyon was retired from the navy Monday on ac count of reaching the age limit. In a pistol duel at Reno, Nev., Policeman Charles Brown was shot and pro ably fatally wounded by a trio of thugs. Before he was shot Brown killed one of his assailants, and Archie Burrie, an employe of the Southern Pacific, was shot in the side. Mr. and Mrs. William K. Vanderbilt Jr., have an heir. The baby is a boy. He will inherit fully $20,000,000 from his father's side of the house, and perhaps twice as much from his mother, who was Miss Virginia Fair. More than 800 men are now engaged in construction work on the Rexford branch, between Fernie and Michel,
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# Woods Bank Declares # a Dividend. The comptroller of currency this morning notified H. N. Morris, receiver of the Woods National Bank, to prepare to pay a dividend of 40 per cent to the creditors of the bank. In sending to the treasury department his report for the quarter ending March 31st, the receiver suggested that a dividend of this amount be declared and the department has acted upon the suggestion.—San Antonio Gazette.
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RECEIVER MORRIS IS NAMED BANK EXAMINER Will Cover San Francisco-Alameda County District OAKLAND, March 22.-Henry N. Morris, receiver of the Union national bank of this city and the Woods national bank of San Antonio, Tex., has accepted the appointment of national bank examiner for the district comprising San Francisco and Alameda counties at the request of the comptroller of the treasury. Morris takes the place of C. F. Roreback, who has been transferred to Chicago. Roreback came to Oakland and took temporary charge of the Union national when the bank was closed. Morris succeeded Roreback as receiver. He has rapidly wound. up the bank's affairs, and they are in such excellent condition of liquidation that the creditors will receive dollar for dollar with interest. Morris expects to close up the settlement this year. Concerning his new duties Morris said tonight: "The affairs of the two banks which I have been handling are in such shape that I can take up the examiner's WOI which the comptroller of the current has asked me to handle. That is th situation in a nutshell. I shall sontinue to handle the Union national's affairs in connection with my increased duties."
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# BANKER ON WAY TO SERVE # 8 YEARS IN PENITENTIARY SAN ANTONIO, March 22.-After devoting almost an entire day to bidding farewell to his family and friends Will F. Woods, erstwhile cashier of the defunct Woods National bank, was taken to the Leavenworth federal penitentiary, where he will serve an eight years' sentence, the result of his conviction on a charge that he had misappropriated the funds of the institution he was connected with. Woods was sentenced in January, 1909, but several appeals served as a stay. About a month ago his case was brought before the United States supreme court, where the sentence of the lower court was affirmed. The Woods National bank failed during the panic of 1908. An examination of its books showed that the funds had been juggled considerably. It was shown at the trial that in order to hide the misappropriation of funds charged, Woods resorted to the expedient of having his family open a large number of accounts with the institution, one of his relatives having no less than seven different check accounts. Although the bank went out of existence the depositors have so far been repaid nearly 90 per cent.
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PARDON FOR WOODS. Friends of Former San Antonio Banker Are at Work. San Antonio, Texas, August 46.-The friends of WillF. Woods, former cashicr of the defunct Woods National Bank, who is serving a term of eight years in the Leavenworth penintentiary for embezzlement, are at work to have him pardoned. This action followed the announcement that another dividend will be paid on deposits in the defunct bank, This will make 98 per cent of the total amount returned to the depositors. National Bank Examiner H. N. Morris, who was former receiver of the bank, is now here in regard to the matter. Woods' defalcation resulted in the bank's failure during the panic of 1907.