National City Bank - Salt Lake City, UT

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10308
Charter Number: 10308
Start Date: January 20, 1922
Location: Salt Lake City, Utah (40.761, -111.891)

Metadata

Model: gpt-5-mini
Short Digest: a96f99c7

Response Measures

None

Receivership Details

Depositor recovery rate: 67.0%
Date receivership started: 1922-02-03
Date receivership terminated: 1930-10-31
OCC cause of failure: Economic conditions
Share of assets assessed as good: 59.7%
Share of assets assessed as doubtful: 38.0%
Share of assets assessed as worthless: 2.3%

Description

Newspaper reports from Jan 1922 state the National City Bank failed to open its doors and later articles (1924 onward) refer to the bank as defunct with a receiver (Edward E. Jenkins) and eventual final dividend paid by receiver James G. Hammond in 1930. There is no explicit description of a depositor run in the provided clippings; the evidence indicates a suspension/closure and receivership due to insolvency/financial failure.

Events (7)

1. January 7, 1913 Chartered

Source: historical_nic

2. January 20, 1922 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed to open its doors and was insolvent (failure to open in Jan 1922; later described as defunct and insolvent).
Newspaper Excerpt: National City bank of Salt Lake City failed to open its doors.
Source: newspapers

3. February 3, 1922 Receivership

Source: historical_nic

4. March 21, 1924 Receivership

Newspaper Excerpt: Suit to adjust title to $56,809.42 declared as a dividend to Salt Lake county, was filed against Edward E. Jenkins, receiver for the National City bank in the United States district court.
Source: newspapers

5. January 21, 1925 Other

Newspaper Excerpt: Action collect on delinquent ... alleged to be due from seven of the defunct National City bank of Salt Lake has been begun ... suite filed in the United States district by Edward E. Jenkins, receiver the bank.
Source: newspapers

6. April 29, 1925 Other

Newspaper Excerpt: A complaint against Edward E. Jenkins ... receiver of the defunct National City bank, asking judgment in the amount of $120,000 ... National Surety company of New York.
Source: newspapers

7. September 26, 1930 Other

Newspaper Excerpt: James G. Hammond, receiver for the defunct National City bank, announced today a seventh and final dividend of 4.9 per cent will be paid shortly to creditors... The bank, capitalized at $250,000 failed in 1922.
Source: newspapers

Newspaper Articles (7)

1. January 20, 1922 Pueblo Chieftain Pueblo, CO

Article from Pueblo Chieftain, January 20, 1922

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From La Junta: West bound passenger train No. 3 was run in four sections Sunday night, one of the sections carrying delegates to the National Furniture Workers association, which is to meet in California. Train No. 3 is being run in two and three sections to accommodate tthe heavy tourist travel to California. S. F. Rathvon, pioneer oil man and who from 1886 to 1908 was manager of the United Oil company, died at his home in Denver. Rev. George H. Stuntz, who has been pastor of the Methodist church in Rocky Ford five years, left for a trip thru the Holy Land and other parts or the near east. City of Rocky Ford passed the ordinance assessing the cost of the street paving done last summer. The total cost amounts to $210,065. Rudy Blockter of Walsenburg was killed by a fall of rock at the Walsen Robinson No. 2 mine. La Plata county and the region contiguous show a much heavier snowfall this year than last. Wm. D. Tidwell of Denver, Colo., for 10 years secretary and manager of the Western Fruit Jobbers' association, will resign. National City bank of Salt Lake City failed to open its doors. City council of Colorado Springs will meet only twice a month in future. Attendance at the Denver show was fair but not up to past records.

2. January 26, 1922 The Lehi Sun Lehi, UT

Article from The Lehi Sun, January 26, 1922

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The board of county commissioners of Salt Lake County, authorized the recelving of bids for a temporary loan o the county of $200,000 for the purose of meeting current expenses of he county until such time as its funds, low tled up through the suspension if the National City bank, of Salt Lake, an be made available. ... With an idea of stimulating Interest n the forthcoming debate with Uniersty of Utah on the question of nether or not the United States should cancel her war loans, the Tau Kappa Alpha, national debating fraernity at the Agricultural college, took charge of the student body meeting and various members of the society talked, ... After more than a year and a half of confinement in a hospital from in. Juries suffered while in the army during the late war, George F. Wilson, 13, of 106 Mead street, died Tuesday at a hospital in Salt Lake. During the time of his illness efforts were being made by officers of the Ameri. can legion and the federal vocational training board, which has now been changed to the United States veter. uns' bureau, to unwind the red tape incident to obtaining this man government compensation but without effort, ... Following the raised standards In the scholarship which were put into effect last fall by the new president of the University of Utah, Dr. George Thomas, the national scholarship fratenity, Phi Kappa Phi, is to be in. stalled on the University campus This will be the only chapter of a na. donal scholarship fraternity in the State of Utah. The purpose of the organization is to uphold scholarship standards. The petition for the chapter vas made by the Faculty. Its membership is limited to students of high standing and the charter members will be students selected by the University faculty. All the "idlers" and other students on the university campus who falled to reach the required standards luring the first school quarter this year were summoned before the "exit committee" pust prior to the holidays and were dismissed from the Institu. sion. This has had a salutary effect or the school campus and through+ out the state. ... Fish planted In Utah streams during the eight months ending Nov. 30, to. caled 5,468,400 according to figures complied by state fish and game comWissioner, ... The farm bureau movement in Utah has been recognized by President Har. Ung in the forthcoming agricultural nference by an invitation to Ephraim Bergeson, newly elected president of the Utah State Farm bureau to attend meeting which opened in WashingD C. Jan. 27nd.

3. March 21, 1924 The Oakley Herald Oakley, ID

Article from The Oakley Herald, March 21, 1924

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# News Notes From All Parts of UTAH Salt Lake, — Abolishment of the municipal clinic for babies under the control of the city and turning it over to the community clinic was the substance of a resolution passed by the Salt Lake County Medical society at its meeting recently. This resolution was adopted following a report of a committee that had been appointed in December to make an investigation of the municipal clinic relative to charges that mothers of well to do babies who could afford to pay full medical fees for medical advice were coming to the clinic. Salt Lake, — Governor Charles R. Mabey has appointed Harold P. Fabian, Darrell T. Lane, Frank Hansen, all of this city; Carl R. Marcus-sen of Price and C. H Stevenson of Castlegate as the committee of five to investigate conditions among the families of miners killed in Saturday's disaster and formulate relief requirements there. Provo, — John S. Smith, president of the Provo Chamber of Commerce, general manager of the Knight Woolen Mills, and a member of the high council of Utah stake, died at his home in this city following a prolonged illness. Salt Lake, — Salt Lake county contributed when its citizens paid their 1923 taxes, $1,233,000 to the state district school fund. From that fund including another payment to be made, the schools of this county will receive $966,000. The remaining $237,000 is this county's contribution toward the maintenance of schools in other counties of the state. Ogden, — Alfred Gladwell, local newspaper man, was appointed a justice of the peace for the Burch Creek precinct by the county commissioners. He qualified to serve by filing a bond of $1000 with the county clerk. Salt Lake, — Suit to adjust title to $56,809.42 declared as a dividend to Salt Lake county, was filed against Edward E. Jenkins, receiver for the National City bank in the United States district court. Ogden — Taxpayers of Weber county outside of Ogden city, rejected by a small margin for the second time in eight months a bond issue to erect a new county high school. Twenty-one precincts cast 560 votes for the bond issue of $300,000 and 614 votes against it the margin being fifty-four votes. Moab — Now that the roads in southern San Juan county are again passable for cars, the auto stage from Monticello to Bluff is again in commission. The stage meets the daily Thompsons-Monticello stage and forwards mail and passengers to Bluff the same day they leave the train at Thompsons. It reduces the time for mail to reach the oil fields in San Juan county by twenty-four hours. Logan, — A campaign to eradicate the poisonous weed which resembles parsley and which has already resulted in the death of a 5 year old child and the severe illness of several others will be conducted within the near future by H. P. Mathews, crops and pest inspector. Castlegate, — George Wilson, 34 years of age, one of the Hiawatha mine rescue team, who volunteered his services to aid the entombed miners at Castlegate Saturday night and was asphyxiated when a leak in his helmet let in the gas, was a native of Almy, Wyo., a coal camp. He had lived in Utah for thirty years. Salt Lake, — The "American plan" open shop conference will hold it next semi-annual conference at Portland, Ore., April 21 and 22, according to announcement made by A. C. Rees of Salt Lake, chairman of the conference. Mt. Emmons, — The actual construction of the new $12.000 ward chapel at Mt Emmons will be started soon. Vernal. — If the bond issue election for $120,000 for school builings at Vernal goes over it is proposed to use $80,000 for a new modern county high school and $40,000 for schools in some of the smaller sections of the county. Heber, — Marion B. Lewis of Heber has applied to the state securities commission for a permit to operate an auto line between Heber and the Park-Utah mine. Salt Lake City. — Slinking in an outbuilding of a small farmhouse near the Summit in Parley's canyon, about eighteen miles from Salt Lake guards from the Utah state prison found Raymond M. Barrett, prison trusty Monday morning after he escaped from the prison Sunday morning. Ogden, — The automobile license bureau established by the secretary of state to serve Ogden and Weber

4. January 21, 1925 The Salt Lake Tribune Salt Lake City, UT

Article from The Salt Lake Tribune, January 21, 1925

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BANK RECEIVER Shareholders in Defunct National City Concern Said to Be Delinquent. Action collect on delinquent asalleged to be due from seven of the defunct Na. tional City bank of Salt Lake has been begun suite filed in the United States district by Edward E. Jenkins, receiver the bank. Those named Frank Henry Ogden, Gertrude Brockie Salt Black. and Bert Blackman, all Ogden. The National City insolvent the of capital off the the defendants failed pay in following amounts together with cent dating 17, are sought Dorothy Blackman Bert Blackman, $1100 William Mrs. Gertrude M. second against Mr. Pincollection of $16,154.03, cent alleged the promissory for $24,800 is sought, The holds that November 17, 1921, Mr. the National bank and of stock When the became charged he failed pay and all shares of stock by the bank, with the exception of that in the Farmers & Merchants were because of bank having failed. BOND MARKET Mon. secondary public utilities Ten industrials Combined Combined month Year Total band sales (par value). $14.- Income year Decrease

5. April 29, 1925 The Salt Lake Tribune Salt Lake City, UT

Article from The Salt Lake Tribune, April 29, 1925

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SUIT FOR $120,000 National City Bank Receiver Defendant in Federal Court Case. A complaint against Edward E. Jenkins of Salt Lake, receiver of the defunct National City bank, ask ing judgment the amount of $120,000 as an alleged unindemnified depository bond, was filed yesterday the federal court by the National Surety company of New York According to the complaint, deposit Salt Lake county funds the bank by Goesbeck, county $125,000 which was with depository bond of the National Surety comcomplaint further states that after the delivery the bond an agree. ment into the plaintiff bank, providng among other things, that the plaintiff would be which might came necessary to the bond. declares the failure the bank 1922 the the protective paid Salt but that the defendant refused low the claim dividends thereviolation the indemnity the plaintiff that its verified claim was filed April the complaint. subse. quent payment of the bond. the the American Indemnity company of Galveston, $5000 the claim. surety further claims the right, the agreement, the bank's property anything due the unpaid The complaint, which was filed by Arthur attorney for plaintiff, asks amount company be entitled participate with other creditors of bank distribution of dividends and for the plaintiff's costs of court.

6. April 16, 1930 The Journal Logan, UT

Article from The Journal, April 16, 1930

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LEGAL NOTICES PROBATE AND GUARDIAN SHIP NOTICE CONSULT COUNTY CLERK OR THE RESPECTIVE SIGNERS FOR FURTHER INFORMATION IN THE DISTRICT COURT OF THE FIRST JUDICIAL DISTRICT OF THE STATE OF UTAH, IN AND FOR THE COUNTY OF CACHE. NOTICE TO CREDITORS In the matter of the estate of Joseph E Cowley Sr DECEASED Creditors will present claims with vouchers to the undersigned administrators of the estate of Joseph E Cowley Sr deceased, at the First National Bank Logan, Utah on or before the 23rd day of July Bessie W Cowley, First National Bank of Logan, Utah. Administrators L. Tom Perry, Attorney for administrators Date of first publication March Date of last publication April 1930 NOTICE TO CREDITORS In the Matter of the estate of, Creditors will present claims with vouchers to the undersigned at office in Logan City Cache County. Utah on or before the 18th. day June 1930. Date of First Publication. April 1930 C. W. Dunn. Attorney for Executor Isaac S. Smith Executor of the Estate of said Deceased Advertisement Hanks. The Federal Land Bank of Berkeley, a corporation, J. C. Hill and W Claypool, copartners doing business as Smithfield Plumbing and Heating Company and James G. Hammond Receiver of the National City Bank of Salt Lake City, To be sold at Sheriff's sale on the 6th day of May, 1930 at 11 'clock A. M. of said day at the front door and sters of the County court house in Logan City, Cache County, Utah. the following described property towit: Beginning at the south-east corner of the south-west quarter of Section 24, Tcwnship 14 North of Range One West of Salt Lake Meridian and running thence west 50 rods: thence north 160 rods; thence east 50 rods thence south 180 rods to the place of beginning, containing 50 acres with all water and water rights belonging thereto, as the property of said Defendants. Dated this 12th day of April W H. Shaw. Sheriff of Cache County, Utah Advertisement

7. September 26, 1930 The Ogden Standard-Examiner Ogden, UT

Article from The Ogden Standard-Examiner, September 26, 1930

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DEPOSITORS TO GET DIVIDEND National City Bank Receiver Winding Up Failure SALT LAKE. Sept 26.-(AP)James G. Hammond, receiver for the defunct National City bank. announced today a seventh and final dividend of 4.9 per cent will be paid shortly to créditors, including depositors. He said the payment will amount to $69,747 distributed among about 1,250 creditors, and will make a total of 71.9 per cent paid them. The bank, capitalized at $250,000 failed in 1922. and a 100 per cent assessment was levied on stockhold-