21321. First National Bank (West, TX)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5543
Charter Number
5543
Start Date
March 27, 1906
Location
West, Texas (31.802, -97.092)

Metadata

Model
gpt-5-mini
Short Digest
9616e9f6

Response Measures

None

Receivership Details

Depositor recovery rate
90.4%
Date receivership started
1906-03-27
Date receivership terminated
1909-06-30
OCC cause of failure
Fraud
Share of assets assessed as good
51.9%
Share of assets assessed as doubtful
29.2%
Share of assets assessed as worthless
18.9%

Description

Multiple contemporary newspapers (Mar 27, 1906) report the Comptroller ordered the First National Bank at West, Texas closed and National Bank Examiner Logan appointed receiver. Subsequent reporting (May 15, 1906) notes legal action by the receiver and arrests for misappropriation by bank officers. No articles describe a depositor run prior to the closure; the closure was by government action and resulted in permanent receivership.

Events (5)

1. August 17, 1900 Chartered
Source
historical_nic
2. March 27, 1906 Receivership
Source
historical_nic
3. March 27, 1906 Receivership
Newspaper Excerpt
National Bank Examiner Logan has been appointed receiver for the First National bank of West, Texas.
Source
newspapers
4. March 27, 1906 Suspension
Cause
Government Action
Cause Details
Closed by the Comptroller of the Currency; National Bank Examiner Logan appointed receiver.
Newspaper Excerpt
The comptroller of the currency has been advised that the First National bank of West, Texas, closed its doors today. National Bank Examiner Logan has been appointed receiver.
Source
newspapers
5. May 15, 1906 Other
Newspaper Excerpt
A petition asking for involuntary bankruptcy was ... filed by Receiver Orr of the First National bank of West ... the cashier ... was arrested charged with misappropriation of $14,000 of funds. The matter grows out of recent troubles of the bank.
Source
newspapers

Newspaper Articles (12)

Article from The Topeka State Journal, March 27, 1906

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Article Text

TEXAS BANK CLOSED. National Bank Examiner Logan Is Made Receiver. Washington, March 27.-The comptroller of the currency has been advised that the First National bank of West, Texas, closed its doors today. National Bank Examiner Logan has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the date of the last report of condition, January 29, 1906: "Resources: Loans and discounts,


Article from The Evening Statesman, March 27, 1906

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Article Text

Texas National Bank Fails. WASHINGTON, D. C., March 27.The comptroller has been notified that the First National bank at west Texas has closed its doors and a receiver appointed. The last published assets and liabilities were $157,000.


Article from East Oregonian : E.O, March 27, 1906

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Article Text

National Bank Failure. 27.-The March Washington, comptroller of the currency is notified that the First National bank at West Texas has closed its doors and a receiver will be appointed. The last published statement gave assets as $736,000, and liabilities as $157.000.


Article from The Daily Tribune, March 27, 1906

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Article Text

Washington, March 27-National Bank Eaxminer Logan has been ap. pointed receiver for the First National bank of West, Texas. Its liabilities are $157,506. The assets are not made known.


Article from Alexandria Gazette, March 27, 1906

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Article Text

From Washington. Correspondence of the Alexandria Gazette.] Washington, March 27. In a signed editorial in the American Federationist, Samuel Gompers, president of the American Federation of Labor, sets forth clearly the view which his organization takes of the arrest of the officials of the Western Federation of Miners for the assassination of exGovernor Steunenberg, of Idaho. In describing the arrest of these men, he says the governor of Colorado had, withconsented to men taken to ing out forcibly hearing, Idaho, these arrested be- by the Idaho authorities in the dead of night, put on a "special train," carried from their home State to a foreign State and there lodged in prison without the opportunity of communicating with each * other, their families, or counsel. The charge against the imprisoned men is a very grave one, but there are due forms of law by which the guilt or innocence of men charged with crime is estalished ; as well is there provided the lawful process by which such men may be extradited and taken to the State whose laws have been violated. The whole procedure is repugnant to the Anglo-Saxon conception of human justice." The Comptroller of the Currency has received a telegram from the assistant cashier of the First National Bank at West Texas, that it has closed its doors. National Bank Examiner Logan has been appointed receiver. The resources and liabilities of the bank at the date of its last report of condition, January 29, 1906, were $157,506,54 each. President Roosevelt this afternoon sent a message to Congress on the subject of preservation of Niagara Falls. He recommends that Congress enact into law the suggestions of the American members of the International Waterways Commission for the preservation of Niagara Falls, without waiting for the negotiating of a treaty. The prospects of ship subsidy legislation at thissession of Congress are gradually growing more remote. Speaker Cannon has given no encouragement to the New England members who sent a delegation to urge him to give consideration to the measure which has passed the Senate and which has been pigeonholed with the House committee on merchant marine and fisheries, of which Gen. Grosvenor, of Ohio, is chairman. The feeling in the committee is by no unit. On the contrary, it is 80 that are closely means a divided, those who claim op- a posed to ship subsidy legislation victory on the ground of an alleged tie in the committee. They say that the vote stands nine to nine, and that because of this fact it will be impossible to carry a motion to report the bill to the House. The races at Benning were again well attended today, the weather being an improvement on that of yesterday. In yesterday's races the Virginia horses did well.


Article from Palestine Daily Herald, March 27, 1906

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Article Text

TEXAS BANK Ordered Closed by Comptroller of Currency.-Small Bank at West. Special to the Herald. Washington, D. C., March 27.-The comptroller of the currency has advised that the First National Bank at West, Texas, be closed. National Bank Examiner Logan has been ap pointed receiver. The bank is a small institution.


Article from The Seattle Star, March 27, 1906

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Article Text

# BANK IS # CLOSED WASHINGTON, D. C., March 27. —The comptroller of the currency has been notified that the First Na- tional bank at West Texas has closed its doors, and a receiver has been appointed.


Article from Bismarck Daily Tribune, March 28, 1906

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Article Text

BRIEF BITS OF NEWS. The comptroller of the currency has been advised that the First National bank of West, Tex., has closed its doors. Alfred Anderson was run down and killed by a train while walking on the Minneapolis and St. Louis railroad tracks near Hopkins, Minn. Emperor Francis Joseph has approved the appointment of Charles Francis to be ambassador of the United States to Austria-Hungary. The Marden theater, the largest playhouse in Meriden, Conn., was burned Tuesday morning. The loss is expected to reach $200,000. The Seattle (Wash.) city council has granted the application of the Chicago, Milwaukee and St. Paul railroad for a franchise to enter that city. Mrs. Sarah J. Wheeler, mother of Mrs. Robert Wilcox (Ella Wheeler Wilcox), is dead at Short Beach. Conn., at the age of ninety-two years. Daniel F. Spires, a well known exslave, who purchased his freedom in 1851 for the sum of $600, is dead near Wellsville, O., at the age of 103 years. Lacking just one month of being 106 years old Mrs. Bridget Coleman is dead at Albany, N. Y. She was born in Ireland in 1800 and came to Amer ica in 1849. There were 43,415 births in Minnesota in 1905, or one every twelve minutes. The rate is 21.3 to the 1,000 of population. or about twice the highest death rate of any community in the state. Bank Robbers Secure $1,500. Bentley, Kan., March 28.-Robbers early in the day wrecked the safe of the Bank of Bentley with dynamite and escaped with $1,500.


Article from Bryan Morning Eagle, March 29, 1906

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Article Text

Logan Receiver. Washington March 28.-National Bank Examiner Logan has been appointed receiver of the First National Bank at West, Tex., which closed its doors Tuesday.


Article from The Tupelo Journal, April 6, 1906

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Article Text

Texas Bank Closes Doors. Washington.-The national comptroller of the currency has received a telegram from the assistant cashier of the First national bank at West, Tex., that it has closed its doors. National Bank Examiner Logan has been appointed receiver.


Article from The Commonwealth, April 6, 1906

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Article Text

Texas Bank Closes Doors. Washington.-The national comptroller of the currency has received a telegram from the assistant cashier of the First national bank at West, Tex., that it has closed its doors. National Bank Examiner Logan has been ap pointed receiver


Article from Bryan Morning Eagle, May 15, 1906

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Article Text

INVOLUNTARY BANKRUPTCY. Petition Asking For This Action is Filed By Receiver. Waco, May 14.-A petition asking for involuntary bankruptcy was Monday morning filed in the United States court by Receiver Orr of the First National bank of West and by the American National Exchange bank of Dallas. The receiver and the Dallas bank proceeded against the president of the First National bank of West, Henry M. Lary, alleging among other things that Lary several months ago transferred to S. D. Lary of Fort Worth property valued at several thousand dollars, using, it is alleged. the proceeds to pay an indebtedness to his wife. The matter grows out of recent troubles of the bank, the cashier of which, T. E. Lary, was arrested charged with misappropriation of $14,000 of funds.