22285. First National Bank (Puyallup, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4224
Charter Number
4224
Start Date
October 17, 1895
Location
Puyallup, Washington (47.185, -122.293)

Metadata

Model
gpt-5-mini
Short Digest
fd18a7da

Response Measures

None

Description

The bank's directors decided to liquidate and ceased to take deposits (article dated Oct 17, 1895). The bank paid off depositors (sent money out in a buggy) as part of voluntary liquidation, not because of a depositor-initiated run. No reopening is reported; later articles state the bank liquidated and a nearby bank moved into Puyallup.

Events (4)

1. February 1, 1890 Chartered
Source
historical_nic
2. October 17, 1895 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors decided to go out of business; bank surrendered national charter and began paying depositors while ceasing to take new deposits.
Newspaper Excerpt
The First National Bank of Puyallup has ceased to take deposits, and is paying the depositors... The bank will remain open during the usual hours, but will not receive deposits. The bank has not been run at a profit for two years, and the directors have decided to go out of business.
Source
newspapers
3. October 19, 1895 Other
Newspaper Excerpt
The First National Bank of Puyallup made a run on its depositors... Money was sent out in a buggy... in charge of the teller, the bank's attorney and two armed men as guards. Before midnight all were paid.
Source
newspapers
4. January 1, 1896 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (14)

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

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GOING INTO LIQUIDATION. The First National Bank of Puyallup Ceases to Take Deposits. Puyallup. Oct. 17.-Special.-The First National Bank of Puyallup has ceased to take deposits, and is paying the depositors, of whom there are ninety, the money due on their accounts. The bank has money on hand to pay off all the depositors. The bank will remain open during the usual hours, but will not receive deposits. The bank has not been run at a profit for two years, and the directors have decided to go out of business. The officers are: President, J. P. Hartman; vice president, F. S. Meeker; acting cashier, E. Meeker.


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

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City Asks for a Receiver for the German-American. RESULT OF WARRANT DISPUTE. The Bank Claims That the City Has Overdrawn Its Account. Columbia National Stockholders to Be Assessed Again-All the County Money Is in the Courthouse Vaults -The First National Bank of Puyallup to Liquidate. Tacoma, Oct. 17.-Special.-City Attorney Wickersham and City Treasurer MeCauley today applied to the superior court for the appointment of a receiver of the German-American Safe Deposit and Savings bank. The application was made before Judge Pritchard, on the ground that the institution is insolvent, its refusa! to honor the city treasurer's check for $58.369, the amount claimed to be on deposit, being cited as evidence. Immediately after the case came up the city attorney moved that the case be transferred to Judge Parker's court, it being shown that Judge Pritchard is a stockholder in the Columbia National bank. The court said he was not interested in the savings bank and saw no reason why he should not try the case. After consulting with the attorneys and Judge Parker, Judge Fritchard granted the motion to transfer the case without prejudice, the bank taking an exception. When the matter came before Judge Parker, the court postponed the hearing till tomorrow, saying tnat there was no showing of an emergency and that a full hearing should be had when an appointment of a receiver for a bank is asked. This action on the city's part is the result of a suit brought on Tuesday by the German-American bank, whereby it seeks to settle its account with the city. The bank alleges that ex-City Treasurer Boggs deposited in the bank $80,369 of city warrants between April, 1892. and April, 1894, the city receiving credit for so much cash. Since taking office in April, 1894, Treasurer McCauley has drawn out $22.000 in cash, leaving the balance $58,369. The city has found that under recent decisions the warrants thus placed in the bank are not strictly legal, being issued in excess of the constitutional limit of indebtedness, though they will be ultimately validated. The bank alleges that since the city claims the warrants to be illegal it should not ask the bank to pay the credit so secured in cash, and asks the court to allow the warrants to be set off against the city's credit. If this contention is allowed, the city will owe the bank the $22,000 already drawn out in cash, and it asks for such a judgment. These allegations were again set up today in answer to the city's request for a receiver. The bank denies the allegation of insolvency. Receiver Nolan of the Commercial bank. today asked for an order authorizing him to return to depositors about $1,200 which was deposited Tuesday, the last day the bank remained open. which deposits were kept separate from the other assets. The failure of the Commercial bank and application for a receiver for the German. American bank in nowise affected the other banks of the city. The officers of the German-American bank say they feel confident of winning their suit and continuing in business. The Columbia National bank is preparing to make an assessment on its stockholders, who have already sent over $45.000 here to meet business demands since the council began its agitation regarding city deposits. The assessment will not be completed until certain papers are signed by Controller James H. Eckles, now en route to Washington City from Europe. Every dollar of county money Fas been withdrawn from the Tacoma banks, and is in the county treasurer's vaults.


Article from The Meeker Herald, October 19, 1895

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Run on Its Depositors. Tacoma, Wash., Oct. 20.-The First National Bank of Puyallup made a run on its depositors last night, probably he first time such a thing was ever lone in the history of banking. The money was sent out in a buggy after 5 o'clock p. m. in charge of a teller, the bank's attorney and two armed men as guards. Before midnight all were paid. The action was taken because an acempt was made to make the bank pay 34,500 owed to the present Erie county treasurer before paying other deposit.


Article from The Daily Morning Astorian, October 20, 1895

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RUN ON CREDITORS Unheard of Proceedings by Puyallup Bank. Sends a Guard Out in Buggy With the Teller to Pay Depositors. Tacoma, Oct. 19.-The First National Bank of Puyalup made a run on its depositors last Thursday night, probably the first time such a thing was ever done in the history of banking. Money was sent out in a buggy after 5 o'clock p. m. in charge of the tetler, the bank's attorney and two armed men as guards. Be. fore midnight all were paid. This action wais taken because an attempt was made to make the bank pay $4700 owed to the Pierce County Treasurer before paying other depositors. The bank with the treasurer today and peace again reigns in Puyailup.


Article from San Antonio Daily Light, October 21, 1895

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Reversed The Usual Order. TACOMA, Wash., Oct. 21.-The First National bank of Puyollup made a run on its depositors Saturday night, probably the first time such a thing was ever done in the history of banks. Before midnight all were paid. The action was taken because an attempt was made to make the bank pay $4,500 to the present county treasurer of Prince county before paying other depositors.


Article from The Providence News, October 21, 1895

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Safe Blown Open by WellKnown Residents. First Time the Bank Ever Had a Run. All Paid. Assignee Appointed Because Cashier Skipped Out With Cash. BUTTE, Mont., Oct. 21.-An unsuccessful attempt was made to rob Hogg, Daily & Company's bank at Anaconda. An opening was cut through the roof building to the safe and a hole drilled in the vault and filled with dynamite, which was touched off by a fuse. A frightful explosion occurred, which shattered plate glass and broke open the vault. A crowd soon collected and one of the robbers was captured on the roof of the building. He was recognized as a well-known young mechanic named A. L. Firpo, who later. implicated Will H. Darling, a young blacksmith as the originator and leader in the attempted robbery. Darling ran away when the explosion occurred and fell off a building, breaking several ribs. RUN ON DEPOSITORS. TACOMA, Wash., Oct. 21.-The First National Bank of Puyallup made a run on its depositors Saturday night, probably the first time such a thing was ever done in the history of bankers. Before midnight all were paid. The action was taken because an attempt was made to make the bank pay $4500 owed to the present county treasurer of Pierce county before paying other depositors. A CROOKED CASHIER. DULUTH, Minn., Oct. 21.-The state bank, of which Charles S. Studley, who fled last week with $15,000 was the cashier, will today go into the hands of an assignee. The assignee will be C. Davidson of Little Falls, who owns a majority of the stock. There is considerable county and state money in the bank and a large amount in individual deposits, but the directors say that every dollar will be paid. STRINGENT MARKET. WASHINGTON COURT HOUSE, O., Oct. 21.-The Peoples and Drovers Bank in this city will post the following notice on its doors today: "On account of the stringency of the money market, this bank has been compelled to close for the time being. Every claim will be paid in full. Efforts will be made to resume soon." The assignment creates no alarm, as the stockholders, who are individually liable, are worth $2,000,000. The capital stock of the bank is $200,000.


Article from The Greenville Times, October 23, 1895

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UNPRECEDENTED. A Tacoma (Wash.) Bank Makes a Run on Its Depositors. TACOMA, Wash., Oct. 21.-The First national bank of Puyallup made a run on its depositors Saturday night, probably the first time such a thing was ever done in the history of banking. Before midnight all were paid and money returned to them. The action was taken because an attempt was made to make the bank pay $4,500 owed to the present county treasurer of Pierce county before paying other depositors.


Article from Warren Sheaf, October 24, 1895

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FLAMES in a mine at Franklin, Wash., caused the death of John H. Clover, S. W. Smalley, John Adams and James Stafford. ON the Grand Rapids & Indiana railroad the pay car was wrecked near Ceylon, Ind., and William Brown, James Gilson and John Matott were killed and several others ,were injured. THE annual session of the National Society of the Daughters of the American Revolution began at Atlanta, Ga. THE president granted a pardon to George M. Van Leuven, sentenced in Iowa to imprisonment for two years and $1,000 fine for violation of the pension laws. FLAMES destroyed four blocks of the business portion of Creede, Col., causing a loss of $175,000. KUTTNAUER, ROSENFELD & Co., wholesale clothing dealers, and Louis Kuttnauer & Co., wholesale tobacco dealers, failed in Detroit, Mich., with total liabilities of $200,000. FIRE wiped out several buildings, including a rice mill, at New Orleans, the loss being $300,000. THE E. W. Backus Lumber company's sawmill at Minneapolis was burned, the loss being $125,000. HANS HANSEN and Thomas St. Clair were hanged at San Quentin, Cal., for killing Nate Fitzgerald. IN a row at a colored cake walk near Moorestown, N. J., James Haggerty, a negro, fatally shot Charles McKim, Mrs. Silas Wessels, George Whitaker and Charles Wiman. Some one then shot Haggerty fatally. AT Hot Springs, Ark., the Corbett habeas corpus case terminated in Chancellor Leatherman granting the writ and releasing the prisoner. A PORTION of the city of New Orleans known as Algiers was almost wiped out by flames, causing a loss of from $350,000 to $500,000 and rendering 1,000 persons homeless. AT Newport News, Va., twonew gunboats for the United States navy were, launched. They were christened the Nashvilleand Wilmington. AT Puyallup, Wash., the First national bank made a run on its depositors, probably the first time such a thing was ever done in the history of banking. FIRE ruined the plant of the Northwestern Fertilizing company in Chicago, the loss being $100,000. By a prairie fire five farmers near Kewaunee, Wis., lost their dwellings and barns. THE death was announced of Frederick L. Billon, aged 95, who had resided in St. Louis longer than any other inhabitant. He was the oldest mason in the west. FLAMES swept away the village of Riverside, Mich. MAUD LEWIS, the woman who killed State Senator Morrissey last winter at St. Louis, was found guilty of murder and sentenced to fifteen years in the penitentiary. IN their home at West Hancock, Mich., Chris Kramer and his wife, an aged couple, were found murdered. Robbery was the motive. THE Detroit republicans renominated Mayor Pingree for a fourth time. A TREE fell and killed John Carr and his wife and two sons near Dry Forks, W. Va.


Article from The L'anse Sentinel, October 26, 1895

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LATER. THAT portion of the city of New Or leans known as Algiers was almost wiped out by flames, causing a loss of from $850,000 to $500,000 and rendering 1,000 persons homeless. FIVE farmers near Kewaunee, Wis., lost their dwellings and barns in a prairie fire. CHRIS KRAMER and his wife, an aged couple, were found murdered in their home at West Hancock, Mich. Robbery was the motive. THE mining village of Stockton, Pa., was practically wiped out by fire. THE Corbett habeas corpus case terminated at Hot Springs, Ark., in Chancellor Leatherman granting the writ and releasing the prisoner. BY an explosion of gas at a colliery in Pottsville, Pa., three persons were fatally and six others seriously injured. ALBERT CABLE and James Brett were killed at Bolivar, Pa., by P. Kingsland, a wealthy farmer, who claimed that the young men insulted his wife. JOHN CARR and his wife and two sons were killed near Dry Forks, W. Va., by a tree falling upon them. JOHN W. MACKAY, JR., eldest son of the American millionaire, was thrown from his horse while riding near Paris, France, and sustained injuries from which he died. FREDERICK L. BILLON, aged 95, who had resided in St. Louis longer than any other inhabitant. is dead. He was the oldest mason in the west. THE First national bank of Puyallup, Wash., made a run on its depositors, probably the first time such a thing was ever done in the history of banking. MAYOR PINGREE was unanimously renominated for mayor for a fourth time by the republicans of Detroit, Mich. SCHUYLER C. HAUGHEY was acquitted at Indianapolis on a charge of assisting his father in wrecking the Indianapolis national bank, which failed in 1893. REPORTS received at the weather bureau in Washington say the present drought in many portions of the country is one of the severest and most prolonged known in the United States since the bureau's organization. THE plant of the Northwestern Fertilizing company in Chicago was burned, the loss being $100,000. IT was said that England had sent an ultimatum to President Crespo, of Venezuela, demanding reparation for the arrest of policemen at Uruan, and that the demand, if insisted upon, might force the United States into a war in defense of the Monroe doctrine.


Article from Arizona Republican, November 1, 1895

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PAID OFF TILL MIDNIGHT. Bank Kept Open Doors Till All Depositors Were Satisfied. TACOMA, Wash., Oct. 31.-The First National bank of Puyallup made a run on its depositors Tuesday, probably the first time that such a thing was ever done in the history of banking. Before midnight all were paid. The action was taken because of an attempt to make the bank pay $4,500 owed to the present county treasurer of Pierce county before paying other depositors.


Article from The Daily Morning Journal and Courier, November 5, 1895

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It is sometimes hard to get money out of a bank when it is wanted, but the First National bank of Puyollup has found it hard to make depositors take their money. Ezra Meeker, known as the "Hop King," is cashier of the bank and the principal owner. He decided to surrender his national bank charter and reorganize the concern as a private bank. To do this it was necessary to pay off the old depositors, but they wouldn't be paid off. They were satdsfied with the bank as it was, and proposed to let their deposits remain. Accordingly Mr. Meeker and his lawyer undertook a run on the depositors. He hired a carriage, loaded up with money, armed himself and his attorney with shotguns, and went around and made the depositors take their cash, willy nilly. He succeeded in his attempt, end the liquidation proceeded peacefully.


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

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summer Bank to Move to Puyallup. Tacoma, Nov. 8.-Special.-F. C. Dobler. cashier of the Bank of Sumner, says the bank will move its headquarters to Puyallup in a few days. leaving a branch at Summer. This move is due to the recent liquidation of the First National Bank of Puyallup. The Bank of Sumner claims to be the only one in the state that had the full amount of deposits on hand during the panic of 1893.


Article from The Superior Times, November 16, 1895

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Has Superior any Banker who Would do So. They have had a novelty in the line of bank runs out in the Puget Sound country. We are familiar enough with the troubles in which depositors clamor for their money at the doors of a failing bank, but the First National Bank of Puvallup reversed the situation. Ezra Meeker, known as the "Hop King" is cashier of the bank and the principal owner. He decided to surrender his national bank charter and reorganize the concern as a private bank. To do this it was necessary to pay off the old depositors, but they wouldn't be paid off. They were satisfied with the bank as it was, and proposed to let their deposits remain. Accordingly Mr. Meeker and his attorney undertook a run on the depositors. He hired a carriage, loaded up with money, armed himself and his attorney with shotguns, and went around and made the depositors take thier cash, willy nilly. He succeeded in his attempt, and the liquidation proceeded peacefully." -We have often wondered how a man who fought as Ald. McQueen did at the investigation of Mayor Starkweather, a few weeks ago, for good, pure and honest acts, could take 80 little notice of and interest in the bank investigation matter. Why does not this Alderman, who made such a very enviable record as a reformer, continue in his good work? We hope Alderman McQueen is not a man that can be "fixed" by a few dollars, 80 that what appears to him to need attention, may in the course of a few hours appear in an entirely different light, and seem to be all right. But he is changed somehow, and who can tell how?


Article from The Worthington Advance, December 12, 1895

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A BANK RUN. Novelty of Its Kind in the Paget Quite Sound Country. They have had a novelty in the line of bank runs out of the Puget sound country. We are familiar enough with the troubles in which depositors clamor for their money at the doors of a failing bank, but the First national bank of Puyallup reversed the situation. Ezra Meeker, known as the "hop king," is cashier of the bank and the principal owner. He decided to surrender his national bank charter and reorganize the concern as a private bank. To do this it was necessary to pay off the old depositors, but they wouldn't be paid off. They were satisfied with the bank as it was, and proposed to let their de-