First National Bank - Juneau, AK

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 5117
Charter Number: 5117
Start Date: July 1, 1911*
Location: Juneau, Alaska (58.302, -134.420)

Metadata

Model: gpt-5-mini
Short Digest: 8964452f96012229

Response Measures

Accommodated withdrawals, Capital injected, Books examined

Description

Inspector found insufficient security for government funds; investor F. W. Bradley took over the bank and placed new management, averting a collapse. There was a minor depositor panic but no suspension or closure reported.

Events (2)

1. April 4, 1898 Chartered

Source: historical_nic

2. July 1, 1911* Run

Cause: Bank Specific Adverse Info
Cause Details: National bank examiner found insufficient security for government deposits; funds had been heavily invested by the bank's founder leaving the institution unsound.
Measures: F. W. Bradley took over the business and installed a new board of directors to recapitalize/save the bank; cashier paid anxious depositors.
Newspaper Excerpt: A German depositor, hearing that the bank was unsafe, rushed up to the cashier's window and shouted: I vants my moneys! ... As the cashier began to count out the amount of the German's balance, the excited man volled his eyes and exclaimed, Oh, haf you got him?
Source: newspapers

Newspaper Articles (1)

1. July 12, 1911 Douglas Island News Douglas, AK

Article from Douglas Island News, July 12, 1911

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Article Text

The First National Last week there was a flurry in bank matters in Juneau that had a very serious look to it. W. R. Goodhart, a national bank examiner, dropped in from Washington, D. C., and found that the First National Bank of Juneau lacked a good deal of having sufficient security for the government money on de posit there. He demanded an immedi ate adjustment, otherwise he would close the bank. Gov. Clark asked him to delay action until he could see Mr. F. W. Bradley at Treadwell. After in vestigating the matter Mr. Bradley CODcluded to take over the business of the bank and save it from collapse. The new management is represented by a board of directors consisting of Mr. Bradley, Henry Shattuck, George F. Miller, John Reck and P. H. Fox. The First National was organized about a dozen years ago by Mr. C. M. Summers and associates. Mr. Sum. mers, as president and manager of the institution, became interested in the promotion of various Alaskan enterprises, among which were the Ketchikan Light & Power Company, the Cor dova Water & Light Company and the Alaska Supply Company, the latter of Juneau. Funds of the bank were invested to such an extent that the institution was no longer sound, a fact the examiner quickly discovered. Juneau people are not only pleased that a collapse was averted, but be. cause they know that the bank will now be placed on a perfectly safe footing. Mr. Bradley's large interests in the neighborhood led him to make the investment. He said to the writer: "A payroll will make Juneau a prosperous town-and that it will soon have." A German depositor, hearing that the bank was unsafe, rushed up to the cashier's window and shouted: "I vants my moneys!" "All right," said the cashier, "sign that check and you shall have it." As the cashier began to count out the amount of the German's balance, the excited man volled his eyes and exclaimed, "Oh, haf you got him?" "Sure," said the cashier. "Vell," said Dutchy, as he picked his hat off the floor and started for the door, "dat's all right, den. You schust keep him." And so the panic was averted.