Fremont State Bank - Seattle, WA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1916*
Location: Seattle, Washington (47.606, -122.332)

Metadata

Model: gpt-5-mini
Short Digest: b322bd93

Response Measures

None

Description

Article (Seattle Star, 1918-09-27) describes the Broadway State Bank as one of four Seattle banks that collapsed two years ago and is in receivership with filed claims and court-ordered dividends (20% paid on filed claims). No contemporaneous run is described. The original suspension/failure appears to have occurred ~1916; the piece discusses ongoing liquidation/receivership and dividend payments as of 1918-09-27.

Events (2)

1. January 1, 1916* Suspension

Cause Details: Article does not specify cause of the collapse/suspension; only states the bank collapsed two years prior to 1918 (circa 1916).
Newspaper Excerpt: Depositors who lost their savings when four Seattle banks collapsed two years ago
Source: newspapers

2. September 27, 1918 Receivership

Newspaper Excerpt: Dividends will be declared as soon as 10 per cent of the claims... The Fremont bank has paid a dividend of 10 per cent on the filed claims, the Broadway bank 20 per cent and the Northern bank 25 per cent. Each depositor is treated 'share and share alike,' explained Moore.CDC (State Bank Examiner Lewis H. Moore). (1918-09-27 Seattle Star excerpt).
Source: newspapers

Newspaper Articles (1)

1. September 27, 1918 The Seattle Star Seattle, WA

Article from The Seattle Star, September 27, 1918

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Article Text

Await Collections to Pay Depositors Depositors who lost their savings a 10 per cent dividend is declared he receives one dime, while the dewhen four Seattle banks collapsed two years ago will receive no impositor with a filed claim of $1,000 mediate dividends, according to would get $100." State Bank Examiner Lewis H. "All our work is done with the Moore. court," he continued. "Every time a "Dividends will be declared as person files a claim, it is registered soon as 10 per cent of the claims in court. No dividends are paid without a court order. filed and approved by the court "Another important thing." he are collected," explained Moore. "Each bank is dealt with separately. added, "is that people who have No definite time for declaring a money coming should be sure and dividend can be set because the let us know of any change in address, for we have several checks moneys of the banks change hands continually. Mortgages owned by in our Seattle office for depositors that have never been called for. the bank, fall due, real estate also owned by the banks must be sold, Depositors should keep in touch with the Seattle office in the White requiring a continuous flucuation of the banks' money." building. so that they will be notiThe German-American Mercantile fied of any rulings in regard to their savings." bank has paid a dividend of 45 per cent on the filed claims, according to the state bank examiners, which involved nearly a million dollars. Chief Warren Made The filed claims of the Fremont state bank, the Broadway state National Official bank and the Northern Savings OAKLAND. Cal., Sept. 27.-Chief Bank & Trust company run over of Police J. F. Warren, of Seattle, $100,000. The Fremont bank has has been elected vice president of paid a dividend of 10 per cent on the National Traffic Officers' asso. filed claims, the Broadway bank 20 clation recently formed here. per cent and the Northern bank 25 per cent. "Each depositor is treated 'share Dr. Gregor McGregor has reopened and share alike,''' stated Moore. dental offices at 516 Leary Bldg., "If a person has a dollar claim when Second & Madison.-Advertisement.