21304. Tyler National Bank (Tyler, TX)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
4747
Charter Number
4747
Start Date
November 30, 1896
Location
Tyler, Texas (32.351, -95.301)

Metadata

Model
gpt-5-mini
Short Digest
8d039959

Response Measures

None

Description

Article 1 (1896-11-30) documents a small run on Tyler National precipitated by the failure of the First National of Tyler; officers published a statement and withdrawals ceased. Later articles (1903) discuss the Tyler bank having been suspended and a receiver being paid and prosecutions arising from the bank's failure, indicating the bank later suspended and entered receivership/closure. Dates for the suspension and receivership are not explicitly given in these clippings; I therefore record the run date and note suspension/receivership without precise dates.

Events (5)

1. June 1, 1892 Chartered
Source
historical_nic
2. November 30, 1896 Run
Cause
Local Banks
Cause Details
Failure of the First National of Tyler (failed and did not open) precipitated heavy withdrawals from depositors at Tyler National.
Measures
Officers published a statement of the bank's condition to reassure depositors; sought cash to meet demands.
Newspaper Excerpt
The failure of this bank precipitated a small run on the Tyler National bank here, the officers of which got out and published a statement of its condition, which seemed to satisfy its depositors and the withdrawals ceased.
Source
newspapers
3. December 31, 1898 Voluntary Liquidation
Source
historical_nic
4. * Receivership
Newspaper Excerpt
The defendants paid an amount of money to the receiver of the bank for the benefit of the creditors and in addition $5000 to cover the government's cost at a former trial, which amount it is alleged was accepted by the attorney general and by him forwarded here for distribution; ... the attorney general reconsidered the agreement to settle and instructed the district attorney to proceed with the prosecutions.
Source
newspapers
5. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Court reporting indicates large overdrafts/irregular accounts (Tyler Car and Lumber company) and other adverse bank-specific issues leading to suspension (discussed in 1903 trials).
Newspaper Excerpt
at the suspension of the bank the overdraft of the Tyler Car and Lumber company had been reduced to approximately $15.000.
Source
newspapers

Newspaper Articles (3)

Article from The Houston Daily Post, December 1, 1896

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Article Text

First National of Tyler. Tyler, Texas, November 30.-The First National bank of this city failed this morning and did not open Its doors for business. The president of the bank, H. H. Rowland, placed a notice on its front door that all depositors would be paid in full. The bank directory gave out a lengthy statement, in which they stated that heavy withdrawais had for some time been made by depositors: that about the time of the failure of the City National bank here on October 18. 1896, $30,000 were withdrawn and that from November 21 to 28 between $70,000 and $80,000 had been taken out by depositors and that since the bank's public statement of October 6, 1896, the bank's liabilities in the shape of bills payable and rediscounts have been reduced over $61,000. The officials of the bank, anticipating heavy withdrawals this morning. made every effort to procure the cash to meet the demands of depositers, but the time in which TO secure such funds was too short and they falled to do so. The directory states that there will be an effort to reorganize the bank and to resume business with reasonable hopes of success. The failure of this bank caused an almost total collapse here, as it did nearly all the business of this community. The failure of this bank precipitated a small run on the Tyler National bank here, the officers of which got out and published a statement of its condition, which seemed to satisfy its depositors and the withdrawals ceased.


Article from The Houston Daily Post, January 25, 1903

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Article Text

THE TYLER BANK CASE GOVERNMENT DENIES AN AGREEMENT TO DISMISS. Motion by Defendants Was Overruled, After Lengthy Arguments Had Been Made in Support of It. Tyler. Texas, January 24. The Tyler bank cases are still occupying the attention of the Federal court at this place, The motion made by the defendants to dismiss was heard today. The application of the defendants for postponement until such time 8.8 the affdavits of ex-Governor Hugg and General L. T. Michener of Washlugton City and others and all correspendence which passed between the at. torney general and District Attorney Me. Lemore. the attorney general and the comptroller of the currency with reference to the settlement and agreement to dismiss alleged to have been made by the at torney with the defendants. which defendants desired to use in reply to the government's answer to the defendants' motion to dismiss, was overruled. The arguments on the general motion then commenced and lasted till late. The testimony In support of the motion shows that the defendants paid an amount of money to the receiver of the bank for the benefit of the creditors and in addition $5000 to cover the government's cost at a former trial, which amount It is alleged was accepted by the attorney general and by him forwarded here for distribution; that three months after the payment of the money the at torney general reconsidered the agreement to settle and instructed the district attorney to proceed with the prosecutions. The government's answer to the defendants' motion was A complete dental by the 7 district attorney In person. and by the attorney general, signed 8.8 ex-officio counsel In the case, that an agreement was made by the attorney general's department to T dismiss. At the close of argument the 1 court overruled the defendants' motion.


Article from The Houston Daily Post, February 3, 1903

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Article Text

# THE TYLER BANK CASES. Overdraft of the Car and Lumber Company Were Testified To. WERE SHOWN IN THE STATEMENTS Made to the Comptroller, Said the Book-keeper-Secretary of Lumber Company on the Stand. Tyler, Texas, February 2.-The cross-examination of the defense of the witness McGehee, who made all the entries in the individual ledger of the Tyler National bank with reference to the account of the Tyler Car and Lumber company was concluded this morning. The evidence given by the witness was merely a matter of record. At the date of the first check mentioned in the indictment the account of the Tyler Car and Lumber company was overdrawn $51,000, while, at the date of the last check mentioned in the indictment the overdraft was $50,000; that afterwards $50,000 of the notes of the Tyler Car and Lumber company were deposited in the bank to the credit of the Tyler Car and Lumber company. Shortly afterwards the bank sold three notes of the Tyler Car and Lumber company, aggregating $30,000, for their face value, which reduced the note indebtedness to the bank $30,000. McGehee was also questioned as to deposits and withdrawal during the period covered by the indictment. March 5 to September 1, and during this period the deposits exceeded the withdrawals by something like $1000 and at the suspension of the bank the overdraft of the Tyler Car and Lumber company had been reduced to approximately $15.000. H. H. Haden was the next witness placed on the stand by the government. He testified that he was the head bookkeeper of the bank at the time of its inspection and with reference to the charges on the hooks of the bank of the checks mentioned in the indictment. He was also interrogated as to the reports made to the comptroller of the currency and stated that the overdrafts of the Tyler Car and Lumber company, as well as others in excess of 10 per cent of the capital stock of the bank, were properly entered in these statements. The attorneys for the defense asked for the production of the original reports made to the comptroller of the currency which were in evidence at the previous trial. Mr. Moxey, expert bank examiner and chief prosecuting witness, then stated that these reports were returned to Washington, and were in possession of the comptroller. Upon being pressed he retired, searched through his papers and returned with part of the reports, but among them, instead of the originals, as asked for, were copies which had never been in the possession of the bank and were not the originals asked for. Both witnesses, McGehee and Haden stated that the account of the Tyler Car and Lumber company with the bank was kept exactly as all other accounts with customers, and McGehee also stated that such accounts were handled in the same manner by other banks with which he had been connected, naming quite a number. The last witness this afternoon was S. A. Fain, who was secretary of the Tyler Car and Lumber company. His testimony so far has only been in reference to the entries in the books.