Olympia Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 19, 1914
Location: Olympia, Washington (47.038, -122.901)

Metadata

Model: gpt-5-mini
Short Digest: df2d4a03

Response Measures

None

Description

Article states the bank opened Aug 19, 1914 and closed its doors a month later. A receiver (Frank P. McKinney) was later appointed and litigation continued; no mention of a depositor run or the reason for the closure, so classify as suspension leading to permanent closure with receivership. Dates inferred from article text.

Events (2)

1. September 19, 1914 Suspension

Cause Details: Bank closed about one month after opening; article gives no specific cause for suspension/closure.
Newspaper Excerpt: This bank, which was to be capitalized at $50,000. was opened in Olympia, August 19, 1914, and closed its doors a month later.
Source: newspapers

2. * Receivership

Newspaper Excerpt: cannot recover from bank receiver, Judge Wright rules... Frank P. McKinney as receiver... Suits brought by Receiver McKinney to collect on the notes of the other stockholders are now pending.
Source: newspapers

Newspaper Articles (1)

1. November 28, 1919 Washington Standard Olympia, WA

Article from Washington Standard, November 28, 1919

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Article Text

LOSE MONEY THEY INVESTED IN STOCK CANNOT RECOVER FROM BANK RECEIVER, JUDGE WRIGHT RULES. Senator P. H. Carlyon, H. T. Jones and W. T. Cavanaugh will not be able to collect any money from the defunct Olympia Bank & Trust company, from Frank P. McKinney as receiver, according to an opinion issued this week by Superor Judge D. F. Wright. Judge Wright holds in his opinion that Senator Carlyon, Mr. Jones and Mr. Cavanaugh should have the money returned to them which they invested in stock in the bank, but that the statute of limitations prohibits them receiving anything. This bank, which was to be capitalized at $50,000. was opened in Olympia, August 19, 1914, and closed its doors a month later. It was headed by W. Dean Hays. Mr. Jones had $1,100 in stock in the bank when it closed: Senator Carlyon had $1,000, and Mr. Cavanaugh had $1,000 invested, and they were the'only stockholders who put up cash, the others giving their notes. Practically all the stockholders and officers in the bank were prominent people in Olympia. Frank C. Owings was attorney for the plaintiffs in this last action and P. M. Troy represented the receiver. Suits brought by Receiver McKinney to collect on the notes of the other stockholders. are now pending.