22118. First National Bank (Anacortes, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4458
Charter Number
4458
Start Date
January 17, 1895
Location
Anacortes, Washington (48.513, -122.613)

Metadata

Model
gpt-5-mini
Short Digest
74b4e8a9

Response Measures

None

Receivership Details

Depositor recovery rate
55.0%
Date receivership started
1895-03-06
Date receivership terminated
1899-05-15
OCC cause of failure
Losses
Share of assets assessed as good
15.9%
Share of assets assessed as doubtful
66.2%
Share of assets assessed as worthless
17.9%

Description

The bank failed to transact business on Jan 17, 1895 and subsequently the Comptroller appointed a receiver (Mar 1895). There is no explicit mention of a depositor run prior to suspension in the articles; events indicate suspension followed by receivership and liquidation actions (dividends declared, suits by receiver). Later receiver replacements in 1897 confirm the bank remained in receivership rather than reopening.

Events (6)

1. November 6, 1890 Chartered
Source
historical_nic
2. January 17, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed to transact business; deposits not entered on books and returned to customers, indicating internal accounting/operational collapse or irregularities prompting suspension of business and examiner involvement.
Newspaper Excerpt
The First National bank failed to transact Its usual business this morning. Deposits were received yesterday, but they were not entered on the bank's books, and were returned to customers today.
Source
newspapers
3. March 6, 1895 Receivership
Source
historical_nic
4. March 7, 1895 Receivership
Newspaper Excerpt
Frank W. Hawkins has been appointed receiver of the suspended First National bank of Anacortes.
Source
newspapers
5. September 3, 1895 Other
Newspaper Excerpt
The comptroller of the currency has declared dividends in favor of the creditors of the national banks as follows: First National bank of Anacortes...25 per cent; (dividend declared by Comptroller).
Source
newspapers
6. August 17, 1897 Other
Newspaper Excerpt
P. W. Strader will be retained as receiver of the First National bank, of Anacortes, in place of T. W. Hawkes, resigned.
Source
newspapers

Newspaper Articles (11)

Article from The Seattle Post-Intelligencer, January 18, 1895

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Bank Failure at.Anacortes. Anacortes, Jan. 17.-Spectal.-The First National bank falled to transact Its usual business this morning. Deposits were received yesterday, but they were not entered on the bank's books, and wre returned to customers today. It is not known whether a receiver will be appointed. The bank examiner is expected here tomorrow. Without question the assets of the bank are more than enough to pay depositors in full, and the bank may resume.


Article from The Seattle Post-Intelligencer, March 2, 1895

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The Anacortes Bank Failure. Washington City, March 1.-SpecialComptroller Eckels said today that he would appoint a receiver for the First National bank of Anacortes tomorrow, but he had as yet scarcely looked at the applications received for the place, and could not, therefore, say whom he would select.


Article from The Seattle Post-Intelligencer, March 8, 1895

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Receiver of the Anacortes Bank. Washington City, March 7.-SpecialFrank W. Hawkins has been appointed receiver of the suspended First National bank of Anacortes.


Article from The Seattle Post-Intelligencer, March 21, 1895

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THE OFFICE DRUM WANTS. To Be Bank Examiner-The Appoint= ment of Receiver Hawkins. Washington City. March 20.-Special.The general impression on Puget sound that George Hazzard is here endeavoring to secure the Chilean mission for Henry Drum. of Tacoma. is slightly erroneous. Mr. Hazzard has not been near the state department, nor has he filed any papers there in Drum's behalf. He is, however, hard, albeit very secretly, and is urging ment bank examiner in working for Mr. as Drum, a very the his appoint- state of Washington upon Comptroller James H. Eckels told the Post-Intelli correspondent that he gencer Eckels. Mr. Mr. had Hazzard considerable correspondence with prior to the latter's coming to Washington City and that since he had been here he had been an almost daily visitor at his office. As there is no vacancy in the bank examiners either in Washor elsewhere, it in order to make a place ranks ington sary of would be for neces- Mr. Drum to displace either Examiner Cleary or Eugene Wilson. The latter appears to be the especial object at which Mr. Hazzard is aiming his little Democratic gun, and the comptroller is at a loss to know Hazzard most desires of Drum or the pointment whether removal the Eugene ap- of Wilson. Hazzard declares that is not only not a Democrat, but influence for in the Republican is Democracy Wilson a most potent evil party against of the state of Washington. Eckels has made an assessthe stockholders ment Comptroller upon of the which Citi- is zen's National bank of Spokane, now in charge of Bank Examiner Flyun, who is acting as receiver. The comptroller is trying to settle up certain matin connection with this bank and after ters this is done he expects to appoint a regular receiver, who will relieve Exeminer Flynn and continue in charge of the bank's affairs until It is all settled. F. W. Hawkins, who was recently apreceiver of the First Anacortes is said here pointed bank of to National be Eck- an out and out Republican. Comptroller that he made no inquiry whatto Mr. Hawkins' him for purely els ever pointed states as business politics, reasons. but apThe only other candidate who was really was Mr. Randolph. of Seattle, was made on considered whse application his the at that day the bank failed by friends of time in Washington City and without Bank by the as his when knowledge. asked comptroller Examiner candidates, Carson, to the respective merits of the two stated that there was nothing whatever to be said against Mr. Randolph, but that Mr. Hawkins' appointment was requested by nearly every depositor In the bank and that he believed the best Interests of those concerned would be subserved by the latter's appointment. It be also stated in this connection Hawkins was a law partner of that might former Mr. Comptroller schoolmate Hazzard of Eck- the els, which is accepted by George proof that this is not a but a personal should be as tion, Democratic, another and repudiated Republicans administra- by all good Democrats, just as the of once repudiated the administration Andrew Johnson. Comptroller Eckels has announced the following changes in officers of National banks in the state of Washington: The First National bank of Oakesdale, no assistant cashier in place of O. E. Halley: National bank of Spokane, W. D. assistant cashier; the Vincent, the Old Cash First N. Gad- National bank of Pullman, dis, cashier in place of H. G. De Pledge, no assistant in place of M. J. Chapman.


Article from The Seattle Post-Intelligencer, June 9, 1895

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PERSONAL. Mr. and Mrs. H. F. Baer, of Spokane, are at the Butler. C. W. Green, a lumberman of Belfast, in this state, is at the Butler. Mrs. E. C. Smith and son, of San Francisco, are in the city on a pleasure trip. Miss Julia Miller, of Santa Barbara, Cal., is the guest of Mrs. David Kellogg. Judge Alfred Battle leaves this week for San Francisco on business and pleasure. S. E. Boynton, of Everett, at one time manager of the Tacoma Globe, is in the city, stopping at the Diller. E. N. MoIntyre and L. L. Griffith, two attorneys of Danby, Vt., are in the city and have rooms at the Northern. W. M. Wardner, a well known mill man of Spokane, arrived in the city yesterday and is stopping at the Northern. Mr. and Mrs. James Gaches, of La Conner, are in the city for a few days. Mr. Gaches is one of the pioneer merchants of Skagit county. F. W. Hawkins, receiver of the suspended First National bank of Anacortes, arrived in the city last night and is stopping at the Butler. Dr. and Mrs. G. A. Weed arrived home yesterday from California, and are the guests of Dr. and Mrs. Park Weed Willis, 617 Chestnut street. Mrs. James H. McSorley and her sister, Miss Emma Kessler, returned on the Mexico from an enjoyable visit in Los Angeles and Santa Monica. Claud C. Ramsey will leave this week for an extended trip to the East. After visiting all the main points of interest in the Eastern cities he expects to spend a few weeks visiting his father, Dr. James G. Ramsey, in North Carolina.


Article from The Kootenai Herald, September 7, 1895

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DIVIDENDS ON SUSPENDED BANKS Comptroller of the Currency Orders Lib eral Amounts Paid. Washington, Sept. 3.-The comptroller of the currency has declared dividends in favor of the creditors of the national banks as follows: First National bank of Anacortes, Anacortes, Wash., 25 per cent; National bank of Pendleton, Pendleton, Or., 25 per cent; American National bank, Springfield, Mo., 20 per cent.


Article from The Seattle Post-Intelligencer, September 15, 1895

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# PERSONAL. H. E. Friday, of Port Blakeley, is at the Diller. T. G. Nicklin, of Whatcom, is staying at the Butler. Judge Henry McBride, of Mount Vernon, registered at the Butler last night. Mrs. A. M. Sickels and Miss Benson have just returned from San Francisco. Capt. Richardson, of the United States ship Columbine, is registered at the Victoria. F. W. Hawkins, receiver of the First National bank of Anacortes, is staying at the Butler. Fred R. Burch has just returned from a trip East of the mountains, combining business and pleasure. Deputy Collector Walter Bowen, of Port Townsend, arrived from Tacoma yesterday on the steamer Flyer. P. J. Primrose, the well-known pioneer of Port Madison, was a passenger on the steamer Flyer for Tacoma yesterday. Mrs. Frank B. Etting, formerly of this city, now of Vancouver, B. C., is in the city visiting her mother, Mrs. C. H. Garton. Miss Elizabeth Waldron, of Muskegon, Mich., is spending the winter with her aunt, Mrs. F. S. Stimson, on Queen Anne hill. Mr. E. B. Savage, of Cleveland, Ohio, is in the city for a few days, stopping at the Butler. Mr. Savage is an old Grand Army man. J. H. Bloedel, manager of the Blue Canyon Coal Company, is staying at the Butler on his way from the East to his home at Fairhaven. Will M. Graham, of Myrtle, Miss., is taking a tour of the Northwest for the benefit of his health, and is quartered at the Diller. John Camerson and Mrs. C. Camerson, his mother, of Emerson, N. W. T., are making a tour of the Sound and are stopping at the Victoria. W. A. Moore, of Arlington, S. A. Cyphers, of Snohomish, and James Morris, of Tacoma, three prominent lumber men, registered at the Diller yesterday. Dr. and Mrs. George A. Stuart and four children are stopping at the Hotel Northern on their way from Wulee, China, to the East. They are accompanied by Miss Grace Lowry, of Peking. Miss Jennie Copp entertained a small but select party on Tuesday evening last at her beautiful summer home on the shores of Lake Washington. The guest of the evening was Miss Florence Smith, of Sunnydale. Rev. Dr. Samuel Wakefield, the oldest Mason and the oldest preacher in the Methodist Episcopal church, who died at West Newton, Pa., on Friday, was a great uncle of Wesley Wilson, manager of the Seattle Coal & Iron Company. John A. Park, who for the past eight years has resided in this city, occupying positions of trust, has resigned his position as assistant cashier of the Washington National bank and will leave next week for Oakland, Cal., to accept a position with the Central bank. Mr. and Mrs. Park will be greatly missed by their many friends.


Article from The Seattle Post-Intelligencer, December 5, 1895

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New Suits Filed. The following new suits were filed yesterday in the superior court: W. L. Whitney, jr.. vs. John Teemann et al.-$1,120 promissory note and to foreclose mortgage. Atkinson-Calhoun Company vs. John De Martini et ux.-$123.50, goods furnished; garnishment directed to Angelo Benettetti. Edmund L. Hepler vs. Caroline Hepler -Divorce. Charles Healey vs. Washington Dairy Company-$34, transcript from justice court. James T. Hurst vs. Alfred Mosher & Son-$44,000 promissory notes paid by Hurst as indorser. F. W. Hawkins, as receiver of the First National bank of Anacortes, vs. Herbert Tappan-$125 promissory note; garnishment' directed to Bank of British Columbia at Seattle. Pierre P. Ferry VS. J. H. Kunzie et al. $625 promissory note and to foreclose mortgage.


Article from The Seattle Post-Intelligencer, January 16, 1896

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# PERRIN NOT GUILTY. Jury in Federal Court Acquits Him in Three Minutes. # THE FRASER INSURANCE CASE. To Test the Law-Bank Questions the Legality of the Personal Tax-A Dissatisfied Wife. It took the jury in the case of the United States vs. Howard E. Perrin just five minutes to render a verdict of not guilty yesterday afternoon. The circumstances of the case are well known from the publicity given them in the newspapers. Perrin, who is a young man of excellent reputation and a college graduate, was cashier of the First National bank of Anacortes, holding the position up to the time of the appointment of Receiver Hawkins. During his connection with the bank it was alleged by the government that he made several false entries, one being that he had carried a $750 tax receipt for a number of months as a cash item, and had entered it in the gold column as so much gold, and another that he had drawn a $3,000 draft on his father's bank in Michigan, depositing it in the Anacortes bank, giving himself credit for it, and issuing to himself a deposit slip. This draft, it is alleged, was also entered in the gold column as so much gold. At the trial yesterday the government was represented by United States Assistant District Attorney Robertson, of Tacoma, and Perrin's interests were looked after by E. C. Hughes. The prosecution used, as its chief evidence, the comptroller's statement, showing a report made by Perrin, in which the $750 tax receipt had been returned as so much gold coin. Mr. Robertson also read the indictment charging Perrin with having made nine false entries. Perrin was placed on the stand in his own behalf, and told of every transaction in a clear-cut, concise manner. He made a good witness, and from the verdict evidently satisfied the jury beyond a doubt that he meant no fraud by his entries. The prosecution placed Receiver Hawkins on the stand to prove a certain statement, and took him right off, but concluded to put him on again after the strong case furnished by the defense. This proved disastrous, as E. C. Hughes literally "tore the witness to pieces" in cross-examination. He made him admit that he stopped at Perrin's house one night as a guard, and then advised Perrin to "skip" to parts unknown the next day, telling him how it could be done. In his argument, also, Mr. Hughes touched up Hawkins, to the evident discomfiture of that gentleman. Mr. Robertson made an earnest plea for the government, and Judge Hanford charged the jury in his usual impartial, logical manner. Perrin and his friends were very much pleased with the verdict, as it lifted a cloud off his character, which had never before been besmirched.


Article from The Seattle Post-Intelligencer, August 17, 1897

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Comptroller Eckels has approved the selection of the Northwestern National bank. of Chicago, as a reserve agent for the Boston National bank, of Seattle, in place of the Centennial National bank, of Chicago, revoked. P. W. Strader will be retained as receiver of the First National bank, of Anacortes, in place of T. W. Hawkes, resigned.


Article from The Seattle Post-Intelligencer, October 7, 1897

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To Sell Doubtful Assets. In the Federal court yesterday Judge Hanford signed an order authorizing Charles H. Baker, receiver of the Merchants' National bank. to sell all doubtful assets of the bank in his possession. An order was made giving the receiver of the First National bank of Anacortes similar authority.