22286. First Willapa Harbor National Bank (Raymond, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11672
Charter Number
11672
Start Date
June 6, 1932
Location
Raymond, Washington (46.686, -123.733)

Metadata

Model
gpt-5-mini
Short Digest
5b1a807a

Response Measures

None

Receivership Details

Depositor recovery rate
86.5%
Date receivership started
1932-02-03
Date receivership terminated
1938-10-15
Share of assets assessed as good
25.7%
Share of assets assessed as doubtful
70.0%
Share of assets assessed as worthless
4.3%

Description

No newspaper article describes a depositor run. A 1932 article states the bank is 'closed' and refers to a bank receiver issuing 'oyster money' clearing certificates; a 1935 deed listing shows property conveyed to the Receiver, confirming the bank remained closed and in receivership. Cause of suspension is not specified in the articles (set to 'other').

Events (5)

1. April 9, 1920 Chartered
Source
historical_nic
2. February 3, 1932 Receivership
Source
historical_nic
3. June 6, 1932 Other
Newspaper Excerpt
About $5,000 of Raymond's oyster money' 'is now circulation... issued this week, is in effect clearing house certificate, issued to individuals to the amount of 10 per cent of their deposits in the closed First Willapa Harbor National bank, secured by the proofs of claim, and to be redeemed on payment of the first dividend by the bank receiver.
Source
newspapers
4. June 6, 1932 Suspension
Cause Details
Article states the bank was closed and a receiver existed; no cause given for the suspension in the articles.
Newspaper Excerpt
closed First Willapa Harbor National bank
Source
newspapers
5. October 2, 1935 Receivership
Newspaper Excerpt
Sheriff to Receiver of First Willapa Harbor National Bank of Raymond, Lots 12 and 13... $9609.67.
Source
newspapers

Newspaper Articles (2)

Article from The News Tribune, June 6, 1932

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Article Text

$5,000 "OYSTER MONEY" IN USE RAYMOND, June 6.-About $5,000 of Raymond's "oyster money' 'is now circulation, and merchants of the city reported having received considerable amounts during the last few days on accounts and for new purchases, Every retailer in the community. with the exception one small house, has accepted the "oyster money," it was reported, but it developed that a few jobbers and wholesalers were refusing to accept from the retailers. Merchants at the meeting, however, have agreed to support those wholesale houses which were assisting them. Raymond's "oyster money, issued this week, is in effect clearing house certificate, issued to individuals to the amount of 10 per cent of hteir deposits in the closed First Willapa Harbor National bank, secured by the proofs of claim. and to be redeemed in on payment of the first dividend by the bank receiver.


Article from The Nespelem Tribune, October 2, 1935

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Article Text

# THE COUNTY BLOTTER ### Deeds County Treasurer to Okanogan Irrigation District, SW4SW4NE4, Sec. 26-34-26, $103.68. Same to same, Lot 2, Sec. 6-34-27, $243.58. Same to same, Tax Nos. 9 and 10, part of SW4SW4, Sec. 8-33-26, $87.75. Silver & Furey, Inc., to Mary Helm, Tax No. 5, part of NE4NE4, Sec. 16-37-27; part of SE4NE4 less platted part, lying north of highway No. 28 in Sec. 16-37-27, $10. Sterling T. Monroe, et ux to James L. Turpen, et ux, Lot 1, Block 8, Home Add. to North Alma, Okanogan, $1. Robert L. Picken, et ux to F. J. May, West 75 ft. of Lots 19, 20, 21, 22, Block 5, Tonasket. T. E. Collier, et ux to Kathereen A. Broder, Lots 13, 14, 15, Block 83, An Addition to Oroville, $1. John Armstrong, et ux to Charles V. East, one-half interest in W2SE4, Sec. 1-39-28, $200. Estate of M. J. Miller to Ben Brown, part of SW4SW4, Sec. 7-33-22, North of Twisp Valley St. Road and South of center line of Twisp rives; west of Rock Point, $3101.50. Lewis H. St. John, et ux to Ade Utt, E2SE4: S2NE4 Sec. 32-36-30. County Treasurer to Clair Ward, NW4SW4SE4:, Sec, 7-33-26. Lee Hunter to The Gamble Lumber Co. Tax No. 5 of NE4NW4 Sec. 18-31-24, $1. Everett C. Miller, et ux to J. J. Kelley, Lots 16, 17, Block I, River Addition to North Alma, Okanogan, $500. Sheriff to Receiver of First Willapa Harbor National Bank of Raymond, Lots 12 and 13, Block "B"; Lots 11-12-13, Block "C" of Ellis-Forde Orchard Co.'s Plat No. 1, $9609.67. D. B. Fletcher to A. M. Benson, Lots 8-9, Block 24, Second Add. to