22406. Wall Street Bank (Spokane, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 15, 1932
Location
Spokane, Washington (47.659, -117.426)

Metadata

Model
gpt-5-mini
Short Digest
cd3822bd

Response Measures

None

Description

The Wall Street Bank of Spokane closed April 15, 1932 after depositor fear following the closing of the American Bank. State banking department and a liquidator (Harry Wilson) took over; by December 1932 foreclosure suit and liquidation actions were underway. There is no clear description of a discrete run preceding suspension — closures appear driven by spillover from other local bank failures and depositor confidence loss. OCR errors in Article 1 made some sentences fragmentary; dates inferred from publication context.

Events (2)
1. April 15, 1932 Suspension
Cause
Local Banks
Cause Details
Depositors became fearful and withdrew or pressured closure following the earlier closing of the (local) American Bank; spillover panic from other local bank failures.
Newspaper Excerpt
The Wall Street Bank of Spokane closed yesterday. ... the bank sound, but depositors fearful over the closing the American Bank.
Source
newspapers
2. December 4, 1932 Receivership
Newspaper Excerpt
Suit to mortgage ... was filed yesterday by the Prudential Life Insurance company against the Wall Street and Harry Wilson, liquidator of the Wall Street bank.
Source
newspapers

Newspaper Articles (6)
1. April 16, 1932 St. Louis Post-Dispatch St. Louis, MO
Article from St. Louis Post-Dispatch, April 16, 1932

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Article Text

CLOSED Three Branches, Miami, Superior and Yuma, Also Suspend. April Dominion Bank and its branches in Miami, Superior Yuma, were closed yesterday order the State Banking Department. Depleted was given the report Dec. last, placed the assets of the four banks at April The Wall Street Bank of Spokane closed yesterday. the bank sound, but depositors fearful over the closing the American Bank. Deposits totaled more than cut cash reserves. The Wall Street Bank carried its the American, had deposits about

2. April 26, 1932 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, April 26, 1932

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Article Text

ACCEPT DEPOSITORS CLAIMS State Bank Acceptances Will Be Had for 10 Days. State banking department officials Monday began to accept filing of claims and creditors of the Spokane State bank located on North Division. The bank closed April 15 with deposits of about $275,000. Depositors will have 90 days from Monday in which file claims. No dividend can be paid before this Claims will first be accepted next Monday from depositors and creditors the American bank, according to Harry S. Wilson. liquidator in charge. American bank also closed April 15. It had deposits of State banking department activities at the Wall Street bank are being held up pending efforts to reorganize and reopen the bank.

3. August 26, 1932 Spokane Chronicle Spokane, WA
Article from Spokane Chronicle, August 26, 1932

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Article Text

All Closed Banks to Be Investigated All closed banks in Spokane will be investigated by Prosecuting Attorney Charles Greenough The Spokane Savings bank. United Hillyard bank, Spokane State bank. Wall Street bank. Union Park bank and Community State bank of Dishman all will come under the prosecutor's scrutiny. "I do not expect to find any particular wrongdoing in any one of these banks, but intend to carry the investigation begun the American bank into all of the other banks that failed this spring," said Mr. Greenough "I feel the failure of these other banks was due. in part at least, to the failure of the American. want to find out as far as possible just what the banking situation has been in the city, and what the causes for these "If at all possible, we must make sure there never is any repetition of this deplorable situation in the future." Clyde Johnson will return from California to stand trial on the American bank charge filed against him here yesterday. State supreme court decisions in previous similar cases, it is indicated. will be invoked as the principal defense of Mr. Johnson, former president of the defunct American; E. B. McBride, a vice president, and Arnold Gleason, cashier; all three charged with accepting deposits at the bank when they "had good reason to believe" the institution was "unsafe and insolvent.' These are today's important developments in the charge filed here yesterday involving the three former officers of the American, which closed April 15, and John F. Davies, director. Mr. Davies is charged with excessive borrowing from the bank. "I will be in Spokane by September or the following day." Mr. Johnson told Sheriff Miles over long-distance telephone from Beverly Hills Cal., home of his brother-in-law, James Dickason. Over long-distance to the Chronicle. Mr. Johnson he had no statement make. He indicated. however, his defense would include calling upon the su preme court decisions in similar cases These decisions state, in substance, bank officials have right to keep an institution open and continue to accept deposits in the face of in solvency. provided there is any possible chance of reestablishing solvency Mr. Greenough said the state will be ready with its cases against all four men some time in October

4. December 4, 1932 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, December 4, 1932

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Article Text

TO FORECLOSE ON PROPERTY Prudential Has $50,850 Mortgage on Street Building Suit foreclose mortgage Wall Street Bank buildWall Main, was yesterday by the Prudential Life Insurance company against the Street and Harry Wilson, liquidator Wall Street The loan originally was around but has been reduced to present on the principal. carried the Wall Investment pany, officers of the Wall Street bank, The stock of the investment comthe bank and pany the bank, Mr. above the the the bank Mr has been interest buyers in the building far. The Wall Street Bank building was originally the main building the Home five bought by the Brothyears ago erhood National bank around after which ation and office building, with four floors and basement.

5. December 4, 1932 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, December 4, 1932

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Article Text

FORECLOSE ON PROPERTY TO Prudential Has $50,850 Mortgage on Wall Street Building. Suit to mortgage of $50.Wall Street Bank buildon the Wall the tween Main, was filed yesterday by the Life Insurance against the Wall Street and Harry Wilson, liquidator of the Wall Street bank. The loan originally around but has reduced to its level on the present principal carried the company, officers of the Wall Street $100,000. The stock of the investment comthe bank the Wilson, can get above the will the the bank Mr. has been interest buyers in the building thus far. The Wall Street Bank building building the originally Home company. About five was bought by the Brothyears ago erhood National bank for ation around $50,000, after which spent into bank building, four floors and basement.

6. December 4, 1932 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, December 4, 1932

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Article Text

TO FORECLOSE ON PROPERTY WOMEN Prudential $50,850 Mortgage Wall Street Building. MUSIC Suit mortgage of $50,- Wall Bank buildthe Wall Main, was filed yesterday by the Life Insurance against the Street and Harry Wilson, liquidator the Street bank. The originally was around but has been reduced present through the principal building carried Wall Street officers of Wall pany, bank, at $100,000. The stock the company pledged bank and equity the liquidator the bank, Mr. Wilson, can get above the mortgage will the depositors the bank. Wilson has been unable to interest buyers in the building thus The Wall Street Bank building originally building the Home About five bought the Brothyears erhood National for ation around $50,000, after which $60,000 spent converting bank and building, with four floors and basement. 300 Hear Mrs. Blew, More Than Pianist, and McCroskey, NEW MEMBERS HONOR Meeting Approves Letter ing Recent Changes State left branch of the AmeriThe Spokane he of Women vard musical listened to an the gram Creek, through the courSpokane tesy its music duced Caruso Blew artists and Robert McCrosColfax, Mabel fered chose Schumann Opus opening and well with the large number audience. than 300 the Another included the "Preludes From Book Spobussy will have the privilege killed.' hearing her again February, presented by the when Musical Art society Mr. McCroskey was heard in two his first three Robert Franz, "Widmung," Ed Rosa Sich Beklagt" and Musik" and Questa Tomba lowing (Beethoven). His Bernard included "Sombre Woods" (Lully), who "Clouds" (Charles), "When Have Kolb Ceased Dream" (Moore) Friday. Are My Mrs. taken accompanied her husband bus the Honor Members. The December which ceded musicale, honored new members admitted this year, and charge Mrs. Thomson, chairman. The Christmas in the decorations. Chairof and officers the association were duced the new during the luncheon hour. The new members Mrs. James Brown, Mrs. Burgess, Cora May Miss Betty Rose Miss Felice Ray Miss Catherine Harper, Hunter, Mrs. Wendell Miss Leila Miss Virginia M. Mrs. Dorothy Wegner, Miss Ethel Zandt, Miss Evelyn Kjosness, Alice Mary Rathbun, Miss Helen McEachMiss Mary Jo Losey, Miss Emily M. Ehlinger and Mrs. West. Oppose State Changes. The local branch approved directed the the division of the association, M. Jolliffe, Tacoma, urging some action matter changes which the the in view changes, such the reducing fisheries, forestry, journalism pharmacy may remove from its accredited Members urged to write ClarMartin, urging exercise his influence "righting conditions."