21371. Japanese-American bank (Ogden, UT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 22, 1909
Location
Ogden, Utah (41.223, -111.974)

Metadata

Model
gpt-5-mini
Short Digest
4c61ced6

Response Measures

None

Description

The local Japanese-American Bank in Ogden was closed and a receiver (W. D. Brown) appointed after the failure of its parent institution in San Francisco. No article describes a depositor run prior to suspension; the sequence is a suspension/closure with receivership arising from correspondent/parent-bank failure.

Events (2)

1. October 22, 1909 Receivership
Newspaper Excerpt
W. D. Brown, the receiver appointed by the district court yesterday to supersede State Bank Examiner Glazier in charge of the affairs of the Japanese-American bank of this city, is now at work on the books of the institution to ascertain what condition its finances are in.
Source
newspapers
2. October 22, 1909 Suspension
Cause
Correspondent
Cause Details
Closed after receiving news that the parent institution in San Francisco was defunct; failure of parent triggered local suspension.
Newspaper Excerpt
The local bank was closed upon advices received from San Francisco, where the parent institution was found to be defunct.
Source
newspapers

Newspaper Articles (10)

Article from The Ogden Standard, October 22, 1909

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Article Text

RECEIVER BROWN CHECKING UP THE CLOSED BANK Receiver Brown is busily engaged checking up the business of the Japanese-American bank. He has ample assistance, but It will be a number of days before he will be able to make a report. No action has been taken by the California authorities in relation to the receivership proposition, but it is expected that they will be heard from before the business of the bank is finally closed up. While a good many of the Japanese depositors are considerably worried lest they lose their money, still they are reconciled to the course of the law and show no disposition to thwart the plans of the officers in the work of auditing the books. State Bank Examiner Glazier states that nearly all the deposits in the bank are in small amounts and that If the bank should be declared insolvent, no one man would lose a large amount. A noticeable feature of the deposits of the bank is that the Japanese residents of Ogden are a saving, frugal class.


Article from The Salt Lake Herald-Republican, October 23, 1909

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Article Text

BANK HAS SMALL DEPOSITS No One Man Will Lose Much If the Japanese Institution Is Insolvent. (Special to The Herald-Republican.) Ogden, Oct. 22.-Receiver Brown is busily engaged checking up the business of the Japanese-American bank. He has ample assistance, but it will be a number


Article from The Salt Lake Tribune, October 23, 1909

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Article Text

RECEIVER OF JAPANESE BANK AT WORK ON BOOKS Special to The Tribune. OGDEN, Oct. 22.W. D. Brown. the receiver appointed by the district court yesterday to supersede State Bank Examiner Glazier in charge of the affairs of the Japanese-American bank of this city. is now at work on the books of the institution to ascertain what condition its finances are in. The local bank was closed upon advices received from San Francisco, where the parent institution was found to be defunct. Attorney Charles R. Hollingsworth. who represents the receiver of the local bank as well as a large number of the Japanese depositors. says that the failure of the California banks have been unfortunate for the local concern. While the revenues are at a low ebb, it is said that they are not more 80 than at any other time during this season of the year. Mr. Hollingsworth says that after the completion of the report of the receiver, and when the business of the local bank has been wound up. it is probable that the bank will be organized as an independent concern. Receiver Brown expects to complete his report in a few days.


Article from The Salt Lake Tribune, January 1, 1910

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Article Text

Says Taxes Are Unjust. Special to The Tribune. OGDEN, Dec. 31.-W. D. Brown, as receiver of the Japanese-American bank. which was found to be insolvent several weeks ago, following the failure of the parent institution at San Francisco, has begun an action in the district court against Alma D. Chambers, county treasurer, to prevent the collection of $680.57 as taxes assessed against the property of the defunct institution for the past year. The receiver says that the taxes are in excess of the just amount. and were assessed upon a capital stock and assets exceeding the true financial condition of the Japanese-American bank.


Article from The Salt Lake Tribune, January 21, 1910

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Article Text

BANK FILES DEMURRER IN JAPANESE-AMERICAN CASE Special to The Tribune. OGDEN. Jan. 20.-County Treasurer Alma D. Chambers this afternoon filed a demurrer to the complaint of W. D. Brown, receiver of the Japanese-American bank, in which the treasurer denies that the now defunct institution was taxed beyond the requirements of the statute of the state, which is one of the allegations of Brown. The county treasurer says in his demurrer that the complaint of the receiver does not show that the bank has complied with the state law regarding what property is exempt from taxation, and asks that the complaint be dismissed.


Article from The Salt Lake Tribune, March 6, 1910

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Article Text

Suit on Notes. Special to The Tribune. OGDEN, March 5.-W. D. Brown, the receiver of the Japanese-American bank, has begun actions in the district court to collect four promissory notes, made in favor of the bank by E. D. Hashimoto and S. Ichimura. The notes made by Hashimoto aggregate $275 and those due the defunct bank by Ichimura amount to $1100.


Article from Deseret Evening News, April 19, 1910

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Article Text

SUIT ON NOTES. OGDEN, April 19.-W. D. Brown, receiver of the Japanese-American bank,


Article from The Salt Lake Tribune, May 12, 1910

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Article Text

COUNTY TREASURER ERRS IN MAKING ASSESSMENT Special to The Tribune. OGDEN, May 11.-A decision was rendered by District Judge Howell this morning in the case of W. D. Brown, receiver of the Japanese-American bank against Alma D. Chambers, county treasurer, in which it is held that the assessment on the now defunct institution levied by the treasurer for 1909 taxes was void because the levy had been imposed as a national bank instead of a foreign corporation. The amount of the taxes for the past year. according to the treasurer's assessment would have been $606.


Article from The Salt Lake Herald-Republican, August 26, 1910

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Article Text

BANK LOSES SUIT. (Special to The Herald-Republican.) Ogden, Aug. 25.-Holding that certificates of deposits held by the defendant company under assignment from individual depositors in the Japanese-American bank after it went bankrupt, the district court today decided the suits of W. D. Brown, receiver of the bank, against the Continental Supply company to recover on two promissory notes.


Article from The Salt Lake Tribune, August 26, 1910

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Article Text

Case Is Dismissed. Special to The Tribune. OGDEN Aug. 25.-The case of W. D. Brown, receiver for the Japanese-American bank, against the Continental Supply company, which was begun in the district court yesterday, was settled today and the case withdrawn from the civil docket. The defendant company paid up the notes held by the receiver for the defunct bank and the certificates of deposit in the possession of the sumply company, which were assigned by depositors in the bank before that institution failed. were allowed.