Article Text
BANK FAILURE. South Bend, WW., August 12.-The First National Bank of South Bend suspended payment today. The officers say that the depositors will be paid in full.
22362. First National Bank (South Bend, WA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 4467
- Charter Number
- 4467
- Start Date
- August 12, 1895
- Location
- South Bend, Washington (46.663, -123.805)
Metadata
- Model
- gpt-5-mini
- Short Digest
6f5cf011
Response Measures
None
Receivership Details
- Depositor recovery rate
- 35.0%
- Date receivership started
- 1895-08-17
- Date receivership terminated
- 1905-07-18
- OCC cause of failure
- Excessive lending
- Share of assets assessed as good
- 6.8%
- Share of assets assessed as doubtful
- 69.2%
- Share of assets assessed as worthless
- 24.0%
Description
The First National Bank of South Bend, Wash., suspended payment Aug 12, 1895. A receiver was appointed Aug 17, 1895 (comptroller appointed Joseph H. Heim). Subsequent dividend declaration in May 1896 indicates winding up under receiver; no article describes a depositor run prior to suspension. Cause appears to be bank-specific poor assets/unsatisfactory statement (old board loaded bank with worthless paper).
Events (5)
1.
November 15, 1890
Chartered
- Source
- historical_nic
2.
August 12, 1895
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank was loaded by prior board with worthless paper and real-estate securities; unable to furnish a satisfactory statement when called in July, precipitating suspension.
- Newspaper Excerpt
- The First National Bank of South Bend suspended payment this morning.
- Source
- newspapers
3.
August 17, 1895
Receivership
- Source
- historical_nic
4.
August 17, 1895
Receivership
- Newspaper Excerpt
- The comptroller of the currency today appointed Joseph Helm receiver of the First National bank of South Bend, Wash., which suspended payment Aug. 12.
- Source
- newspapers
5.
May 17, 1896
Other
- Newspaper Excerpt
- Comptroller Eckels has declared a first dividend, 15 per cent, in favor of the creditors of the First National bank of South Bend, Wash., on claims proved amounting to $52,302.06.
- Source
- newspapers
Newspaper Articles (20)
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SOUTH BEND, Wash.-The First National Bank of South Bend suspended payment this morning. The officers say depositors will be paid in full.
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Gone Under SOUTH BEND, Wash., Aug. 12.-The First National bank of South Bend suspended payment this morning. The oflicers say depositors will be paid in full.
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National Bank Suspends Payment. SOUTH BEND, Wash., Aug. 13.-The First National bank of this city has suspended payment. The officers say depositors will be paid in full.
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To Pay in Full. SOUTH BEND, Wash., Aug. 12.-The First National Bank of South Bend suspended payment this morning. The officers say depositors will be paid in full.
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SOUTH BEND'S BANK FAILURE. The Closing n Surprise, as the Institution Was in Good Standing. South Bend. Aug. 13.-Special.-The fallure yesterday of the First National Bank of South Bend was a complete surprise to every one. The last statement of the bank. published in May, showed an improvement in its financial condition. Times have improved greatly of late in the county and city, and It was generally supposed that the bank was prospering as well. Little blame is attached to the present management of the bank, but rather to the board of directors of three or four years ago, when It was loaded up with what has proved to be worthless paper and real estate securities upon which little could be realized. The bank bore the crisis of a year and a half ago bravely, which fact greatly increased public confidence in it. For over a month and a half there has been a constant withdrawal of deposits from the bank, not through lack of confidence, but for investment in new local enterprises and by merchants for the purchase of fall goods. Early in July the bank was called on for another statement and was not able to furnish a satisfactory one, which was the immediate cause of its suspension. It had nearly all of the county deposits. amounting to about $16,000, which is well secured to the county by the treasurer's bonds. The city had about $2,000 on deposit, also well secured. Pending the arrival of the bank examiner. who is expected tonight, the officers of the bank refused to talk concerning the condition further than to state that it will pay all depositors In full If the assets are properly managed. The general fear of stockholders and depositors is that some receivers will be sent here from Georgia or Texas who will be unacquainted with local conditions and sacrifice the securities. The officers of the bank are: President, R. H,
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TELEGRAPHIC BREVITIES. Japan is in the midst of a cabinet crisis. The First National Bank of South Bend, Washington, has suspended. It is stated in Sofia that the sultan is firmly resolved not to admit the principle of foreign control in Armenia. Eastern capitalists are in San Francisco working on a scheme to reclaim the Colorado desert by turning the waters of the Colorado river over the vast territory. New York had another dry Sunday. Steve Brodie was three times arrested and discharged for giving away lemonade and taking up a collection for a free ice fund. Prof. Bemis, professor of political economy, at Chicago University, has been dismissed because his teachings did not please the millionaire patrons of that institution. Contrary to general expectation, the various tailor shops in New York City whose bosses are said to have signed agreements with their striking workmen. have not resumed work. It is reported that the United States government claims that Spain should pay interest on the Mora indemnity. It is understood that the Spanish government has decided to refuse this demand. Advices received from Tarsus, Asia Minor, say that a mob attacked the American school at that place, maltreated several of the students and threatened the missionaries. The will of Mrs. T De Witt Talmage
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one tion cut off four fingers of his right hand. FIERCE forest fires were raging in the state of Washington and scores of farmers had lost all they possessed. DR. J. H. WHITEFORD, a prominent physician at Wilmot, S. D., while laboring under a temporary aberration of mind shot and killed his wife and then fatally shot himself. VICE PRESIDENT STEVENSON and party sailed from Tacoma, Wash., for Alaska on the steamer Queen. JUDGE SMITH, of the fourth district court of Utah, decided that women in Utah had a right to vote for the ratification or rejection of the new constitution, and also for the O fficers of the proposed state. M. P. MOLLER'S organ works at Hagerstown, Md., were destroyed by fire and 100 reed organs were burned. A. W. HESUTIE, of Crown Point, N Y., and Miss Helen B. Randall, of Oneida, were killed by the cars near Oneida. They were soon to be married. LEW SMITH and his child wife, fearing prosecution at Wheelock, Tex., for forging an order for a marriage 11cense, took morphine, and both were found dead in bed. THE deaf-mute institute at Salt Lake City, U. T., was burned, the loss being "000'00T$ TWENTY-FIVE head of cattle were killed by a single flash of lightning in Finney county, Kan. 18 Illumes B as HaToH V Fla., exploded, killing Allen Brooks, Prince Hall and Amos Cross. THE visible supply of grain in the United States on the 12th was: Wheat, 37,840,000 bushels; corn, 4,613,000 bushels; oats, 3,925,000 bushels; rye, 254,000 bushels; barley. 44,000 bushels. THE Baptist church at Sterling, O., was destroyed by lightning, the second time in eighteen months. HERMAN KOHANP, a young German at Sibley, Ia., blew out the brains of Mrs. William Kruger, wife of his employer, and then committed suicide by cutting his throat. No cause for the tragedy was known. WHITE caps drove every negro out of Delta county, Tex. One, who refused to go, was shot dead. beforeen "I I Nometon 18 44.8g B NI the McGurt brothers and the Walker II" e.Spn.18 PI° UE JO because brothers four were killed. THE export of provisions from the United States during July aggregated $14,024,688, against $14,786,755 in July, T681 A FIRE which did damage amounting to $350,000 started in the five-story building occupied by Brown & Bailey us xoq B se THE boiler of a sawmill on Clay lake; Montgomery county, Ky., exploded, killing John Hines, his son and the fireman, William Smith. GEORGE CROMLEY, Cornelius Shay and John Ryan, iron workers at Pittsburgh, Pa., have discovered the lost art of welding copper to iron or steel. THE noted outlaw. Cherokee Bill, was sentenced at Fort Smith, Ark., to be hanged September 10. THE First national bank of South Bend, Wash., suspended. WILL HARRIS, a negro who attempted to assault Mrs. J. F. Monroe,a 60-yearold white woman in Colquitt county, 'qoat R &q death 07 tous SUM "eg PATRICK and Dennis Morgan,brothers, quarreled while intoxicated at Pittsburgh and killed each other with pen knives. A STAGE COACH was held up by two masked men at Wright's Bridge, Ore., and the passengers were robbed of their money and valuables. J. B. SAGE. director of the weather erop bulletin of Iowa, announces that hot winds for a week did great damage to crops. THE number of tons of coal mined in Ohio during the past year was 11,910,лэло tons JO decrease e 'GIG the year previous. THE picture of ex President Harrison, painted by Eastman Johnson, was hung in the white house at Washing"not GEORGE T. LOHER and T. F. Cornell left Oakland, Cal., for a trip around the world on bicycles. THE residence of Henry Redd, near Richmond, Va., was struck by lightning and Redd, his wife and daughter were instantly killed. A little son of Watt Lee, who lived near by was also killed about the same time. IN a 20-mile bicycle race at Minneapolis Burney Bird, of St. Paul, broke the world's record, making the distance in 54:17. MAX L. GUTMAN, a retired jewelry "X 'N 18 tried to kill his four daughters by shooting them. The women escaped and then Gutman shot himself fatally. THE Bank of Shelby, Tenn., suspended with liabilities of $107,000. GEORGE P. TINKER set 81,041 ems of agate type in eight continuous hours,
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District Attorney Shelton. Washington, Aug. 17.-The comptroller of the treasury to-day appointed Joseph Helm receiver of the First National bank of South Bend, Wash., which suspended payment Aug. 12. George F. Shelton of Helena has been appointed assistant United States attorney for the district of Montana.
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The South Bend Bank Receiver. Washington City, Aug. 17.-The comptroller of the currency today appointed Joseph Helm receiver of the First National Bank of South Bend, Wash., which suspended payment August 12. South Bend, Aug. 17.-Special.-Receiver Heim's bonds are placed at $25,000. He is propritetor of the Hotel Albee. a leading Democrat, and a man of undoubted integrity and good business capacity. His appointment meets with general satisfaction.
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APPOINTMENTS. WASHINGTON, Aug. 17.-The comptroller of the currency today appointed Joseph G. Helm receiver of the First National bank, South Bend, Wash., which suspended payment on August 12. George F. Shelton, of Helena, has been appointed assistant United States attorney for the district of Montana.
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Receiver Appointed. WASHINGTON, Aug. 17.-The comptroller of the currency today appointed Jos eph Heim receiver for the First National bank of South Bend, Wash., which sus. pended payment on August 12. George F. Shelton of Helena bas been appointed assistant United States attorney for the district of Montana.
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Bank Receiver Appointed. Washington, Aug. 17.-The comptroller of the currency today appointed Joseph H. Heim receiver of the First National bank of South Bend, Wash., which suspended payment August 12.
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Bank Receiver Appointed. Washington, Aug. 17.-The comptroller of the currency today appointed Joseph H. Heim receiver of the First National bank of South Bend, Wash., which suspended payment August 12.
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Bank Receiver Appointed. Washington, Aug. 17.-The comptroller of the currency today appointed Joseph H. Heim receiver of the First National bank of South Bend, Wash., which suspended payment August 12.
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Pacific County News. South Bend, Aug. CA.-Special.-County Treasurer Lockwood made a proposition to the county commissioners, at their speclal session which closed yesterday. for the payment of warrants pending the settlement of the affairs of the First National bank of South Bend, which suspended payment with all of the county deposits, amounting to over $16,000. His proposition was to pay out of his own pocket the interest due on the county bonds November 1. amounting to $1,980. and which sum was deposited in the suspended bank to the credit of the general fund. There was but about $600 in the general fund besides the $1,980, and warrants to nearly the full amount had been called. The general fund indebtedness is therefore not affected. There was, however, in the bank $8,048 to the credit of the road and bridge fund and $1,300 to the credit of various fead districts. Warrants which the county commissioners may order drawn against these funds will be honored by the treasurer out of private funds, and he will pay the $630 interest due September 1 on South Bend school bonds. As to school warrants, in those cases where there had been money to pay them. he will indemnify the county for all interest that may accrue from now until the warrants are paid. This offer is made by the treasurer on the condition that he and his bondsmen be not proceeded against at once for the amount fied up but that the bank be given time to pay out. The offer was accepted. The fishermen's strike against a cut by the canneries from 2 cents per pound to 30 cents per fish was of short duration. The Nicolai cannery restored the old rate this morning. The 2-cent rate holds only for the chinook salmon now running. No arrangement was made as to the price to be paid for silversides.
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South Bend News. South Bend. May 1.-Special.-F. A. Hazeltine was appointed county treasurer Wednesday night by the county commissioners for the unexpired term of the present treasurer, S. F. Lockwood. There was no opposition. Mr. Lockwood's resignation was due to a suit brought against him and his bondsmen by the county for $17,500 of the county funds which are tied up in the suspended First National bank of this city. He has been a capable and efficient officer, and his honesty and Integrity are generally conceded. The new treasurer is editor and proprietor of the South Bend Journal. Capt. Gunderson, of North Cove, has his cannery building completed and his plant in working order. He is at present canning crabs only, and is meeting with great encouragement. Crab meat seems really to be Improved by the canning process. There is no other cannery on this Coust which cans the ocean crab, and Capt. Gunderson says he can easily compete with the canned crabs from the Atlantic coast; in fact, he can undersell them considerably. Crabs abound in the bay in the neighborhood of North Cove, and there is no danger of the demand exceeding the supply. Capt. Gunderson will also can clams and sardines. The latter fish have not as yet commenced to run this season. It is not generally known that the genuine sardines are to be found in Willapa bay at certain seasons of the year, but It is a fact.
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Suspended Bank Dividends, Washington, May 17.-Comptroller els has declared dividends as follow first dividend, 15 per cent, in favor creditors of the First National ban South Bend, Wash., on claims P amounting to $52,302.06. A first divid 15 per cent, in favor of the creditos the Bellingham Bay National ban New Whatcom, Wash., on claims P amounting to $64,325.39.
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Suspended Bank Dividends. Washington, May 17.-Comptroller Eckels has declared dividends as follows: A first dividend, 15 per cent, in favor of the creditors of the First National bank of South Bend, Wash., on claims proved amounting to $52,302.06. A first dividend, 15 per cent, in favor of the creditors of the Bellingham Bay National bank of New Whatcom, Wash., on claims proved amounting to $64,325.20.
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Suspended Bank Dividends. Washington, May 17.-Comptroller Eckels has declared dividends as follows: A first dividend, 15 per cent, in favor of the creditors of the First National bank of South Bend, Wash., on claims proved amounting to $52,302.06. A first dividend, 15 per cent, in favor of the creditors of the Bellingham Bay National bank of New Whatcom, Wash., on claims proved amounting to $64,325.29.