2575. Gulf National Bank (Tampa, FL)

View Charter #4478 on SPMC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4478
Charter Number: 4478
Start Date: May 31, 1893
Location: Tampa, Florida (27.948, -82.458)

Metadata

Model: gpt-5-mini
Short Digest: e764ded1

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1893-07-14
Date receivership terminated: 1899-05-24
OCC cause of failure: Losses
Share of assets assessed as good: 78.3%
Share of assets assessed as doubtful: 10.7%
Share of assets assessed as worthless: 11.0%

Description

The bank suspended in late May/early June 1893 (articles state it 'has suspended' / 'failed'), and the Comptroller appointed a receiver (J. B. Anderson) on 1893-07-14, indicating permanent closure and receivership. Causes cited link the action to failures at Brunswick, Ga., i.e., distress of other local banks. Later reporting discusses receiver dividends and possible resumption under the receiver, but appointment of a receiver indicates the bank did not continue normal operations.

Events (4)

1. December 2, 1890 Chartered

Source: historical_nic

2. May 31, 1893 Suspension

Cause: Local Banks
Cause Details: Suspension/failure was attributed to the Brunswick failures and related Southern banking distress (articles state action was caused by the Brunswick failures).
Newspaper Excerpt: TAMPA, Fla., May 31 -The Gulf National Bank, with a capital stock of $50,000, has failed.
Source: newspapers

3. July 14, 1893 Receivership

Source: historical_nic

4. July 14, 1893 Receivership

Newspaper Excerpt: The Comptroller of the currency has appointed J. B. Anderson receiver of the Gulf National Bank, of Tampa, Fla.
Source: newspapers

Newspaper Articles (12)

1. June 3, 1893 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, June 3, 1893

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ROANOKE, VA., JUNE 3, 1893. THE !OUTHERN FINANCIAL SITUATION. It has been said by some financiors that the ultimate result of the bank failures in Australia will be to send more European money to this country for safe investment. Should this prove to be the case the South will undoubtedly receive 3 large share of it, as it has always been a favorite field for foreign investors. That there is money enough in the country, says the Manufacturers' Record, is shown when a first class security 1S offered. Recently two bond issues were made, which were taken up without delay. One was the new'4 per cent. bonds of the Pennsylvania railroad, and the other an issue of $300,000 in 5 per cent. bonds of the City and Suburban railway, of Baltimore. This last was part of a total issue of $1,000, 000, and was taken at 1121/2 and interest. The financial situation in the South presents the feature of caution more than any other. There is no lack of money, but banks and investors, still feeling uneasy from the disquieting reports from New York, are cautious in their movements. A feeling of distrust and insecurity following the Ulman failures at Brunswick, Ga., caused the State Bank to close its doors. A rumor was started that it was insolvent and caused an application for a receiver to be made. The court bas not as yet granted the application. and the bank officers ask an exa roination to prove its solvency. The Kissimmee Bank which suspended last week has been examined and shows available assets of $119,916.93, with liabilities of $72,598.87. It will resume business at once. The condition of the Gulf National Bank of Tampa, Fla., which has suspended, will be examined. This action was caused by the Brunswick failures. The Richmond Terminal reorganization, from which the South expects much, progresses but slowly. The plans of Drexel, Morgan & Co., are regarded by many security holders as slighting their interests, and 3 well defined opposition movement is going on which will effectually block the reorganization unless an amicable settlement is arrived at The Georgia Central suit. which has hold a position only second to Richmond Terminal in railroad affairs, promises to come to some more or less definite conclusion within the next week. This is much to be desired, as this property is too valuable to be tossed about as it has been.

2. June 6, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, June 6, 1893

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THE LATEST NEWS. Sparks from the Wires--Most Important Events Throughout the World for a Week. The People's Bank of North Baltimore has failed. NEW YORK May -Wall street is dull to-day and stocks lower. TAMPA, Fla., May 31 -The Gulf National Bank, with a capital stock of $50,000, has failed. J A. Spence & Bro, grocers. Raleigh. assigned Thursday. Liabilities about $10,509.83. "Scarcity of money." MILWAUKEE, Wis, June 1.-The Plankington Bank, which was involved in the F. A. Tappan failure, closed its doors this morning. AUGUSTA, Ga., May 29.-Freight Con ductor George Arnold, of the Georgia Road, fell between two cars near Union Point to-day and was killed. Ex Secretary Foster, who lives at Fostoria, Ohio, has assigned, with liabilities of over one million dollars. He is getting a taste of "great pros perity." LITTLE Rock, Ark., May 29-The Buddentseig Furniture Company, the largest concern of the kind in the State, has failed liabilities, $200,000; assets, $50,000. FARGO, N. D, May 30.-It is expected here that at least twenty bank failures will follow the closing of the Bank of North Dakota. President Mears ran them on the Dwiggins plan. SOCIAL CIRCLE, Ga., May 30.-Mr. W. B. Malsby was shot and killed last night after supper while assisting in the arrest of George Connell, colored, for whom a warrant had been issued BIRMINGHAM, Ala., May 29.-Aspecial to the Age Herald from Opelika says: Pink Haley, son of a prominent citi zen while on a spree last night. shot a colored courtesan named Dought Greenlea and then killed himself. The girl will die. SAVANNAH, Ga, May 30. -Near Hazel hurst Monday an unknown white tramp tried to commit a criminal assault upon a white woman named Mrs. Crosby. She drew a pistol and shot him in the head. He staggered off a short distance and fell dead in his tracks NEW YORK, May 29 -It is stated that the Macon and Northern Railroad, ex tending from Athens, Ga, to Macon, Ga, 110 miles, will withdraw from the Richmond Terminal system. The rea son assigned is that the terms awarded the stockholders under the new plan are not liberal enough. WASHINGTON, May 29. ptroller Fekels was to day informed of the failure of the Gulf National Bink, of Tampa, Fla The capital of the bank was $50,000 and the individual deposits $123,316. The stock and management changed hands May 4th. Bank Examiner McDonald has been ordered to take charge of the bank.

3. June 7, 1893 The Star Reynoldsville, PA

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LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. At Sioux Falls, 8. D., the Bank of Bererford, R private institution, with capital of $25,000 has failed. Wells & Garretson, private bankers at Fairfield, Iowa, have suspended payment to await the result of collections. Their total liabilities are estimated at $50,000 and their assets at over 80.000. --ALEXANDER DEUTOCH. one of the hig dry goods men of New York, makes his wife's gowns. It is said that he could give Worth pointers on dressmaking if it were worth his while. Comptroller Eckels was informed of the failure of the Gulf National Bank, of Tampa, Fla. The capital of the bank was $50,000, and the individual deposits $123,346. The total liabilities of the failed Yates Bank of Rochester, N. Y., are $4,118,803 93, with only $500,000 of unhypothecated assets to meet unsecured and contingent liabilities of $2,868,539 99. The creditors of Ex-Secretary Foster met in Fostoria. O., and agreed to accept 50 per cent. in payment of their clai ms. the pay. ment of the balance to rest with Mr. Foster's future ability and judgment. Mr. Foster says he soon will be able to pay 50 per cent.

4. June 8, 1893 The Middleburgh Post Middleburg, PA

Article from The Middleburgh Post, June 8, 1893

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LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. At Sioux Falls, 8. D., the Bank of Beresford. a private institution, with capital of $25,000 has failed. Wells & Garretson. private bankers at Fairfield, Iowa, have suspended payment to await the result of collections. Their total liabilities are estimated at $50,000 and their assets at over $80.000. -ALEXANDER DEUTOCH. one of the hig dry goods men of New York, makes his wife's gowns. It is said that he could give Worth pointers on dressmaking if it were worth bis while. Comptroller Eckels was informed of the failure of the Gulf National Bank, of Tampa. Fla. The capital of the bank was $50,000, and the individual deposits $123,346. The total liabilities of the failed Yates Bank of Rochester, N. Y., are $4,118,863 93, with only $500,000 of unhypothecated assets to meet unsecured and contingent liabilities of $2,868,539 99. The creditors of Ex-Secretary Foster met in Fostoria. O., and agreed to accept 50 per cent. in payment of their clai ms. the pay. ment of the balance to rest with Mr. Foster's future ability and judgment. Mr. Foster says he soon will be able to pay 50 per cent.

5. July 15, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, July 15, 1893

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Telegrams Made Terse. Vice-President Stevenson and party are rived at Los Angeles, Cal., yesterday. Advices from Warsaw, Poland. state that the expulsion of the Jews is continued see cretly. The National Bank, of Kaneas City. Mo. has closed its doors. Liabilities estimated at $1,000,000. The Comptroller of the currency has appointed J. B. Anderson receiver of the Gulf National Bank of Tampa, Fls. The Mercantile Bank. of Memphia, Teun., yesterday withdrew from the Memphis Clearing-House Association. Jules Aldige, one of the wealthiest eith zens of New Orleans and largely identified with cotton-seed oil mills, died in Paris yesterday. The British House of Commons has agreed to an address of congratulation to be presented to the Queen upon the recent marriage of the Duke of York and Princess May. The new United States cruiser Detroit, in tow, left the Columbian Iron-Works Baltimore, yesterday for the Norfoiknavi. yard, where she will receive her arma. ment. It is announced that as a result of the failure yesterday of the National Bank of Kansas City, Mo., the Frankifh Savings Bank of the same town will to-day make an assignment. The assets areabout $15,000. The reports from the Bavarian parlia. mentary elections show that seventy-three Clericals, sixty-eight Liberals, three Con. servatives, seven members of the Peasants' League, five Social Democrats, and one Democrat have been returned. The Grand Duke Michael, uncle of the Czar. has persuaded the Czar to postpone indefinitely the expulsion of Jews from the Caucasus. The Grand Duke is under stood to be strongly opposed to the whole anti-Semitic policy of the Russian government. Two of those wounded in the West. Shore wreck at Newburg, N. Y., died Thursday night-Julia Michel, of Brook. lyn, whose skull and thigh were fractured, and Charles E. Sistare, of New London, Conn., who suffered from fractured ribs and internal injuries. The Interstate Commerce Commission yesterday confirmed the report from Tacoma, Wash., that President Van, horn. of the Canadian Pacific Hailread Company, and several local agents of the road bad been indicted by the grand jury for violations of the interstate commerce act in making secret cut-rates for passongers.

6. July 15, 1893 Evening Star Washington, DC

Article from Evening Star, July 15, 1893

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Bank Receiver Appointed. The controller of the currency has appointed Mr. J. B. Anderson receiver of the Gulf National Bank of Tampa, Fla.

7. July 15, 1893 The Times Richmond, VA

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Telegraphic Brevities, WASHINGTON, July 14.-The Comptroller of the Currency has appointed J. B. Anderson receiver of the Gulf National Bank, of Tampa, Fla. NEW ORLEANS, July 14.-A private dispatch says that Jules Aldige, one of the wealthiest citizens of New Orleans, and largely identified with cotton seed-oil mills, died in Paris to-day. MEMPHIS, TENN., July 14.-The Mercantile Bank, of this city, to-day withdrew from the Clearing-house Association, which hitherto comprised nine of the leading banks of the city. The cause of the withdrawal is given out to be the result of a business disagreement among the members. WASHINGTON, D. C., July 14.-The minimum port carriage for the twelveinch gun ordered from the Gruson works, Germany, by the Bureau of Ordnance, War Department, will be tested at the proving-ground, Mepen, Germany, some time this month. The carriage will be inspected by Captain Mitchan after the test. The carriage was ordered through Mr. Satterly, of New York, the agent of the company in this country. GREENVILLE, S. C., July 14.-Near Grier's station, ten miles from here, today Tom Toney cut Jim Cox with a pocket-knife, severing (his jugular-vein and killing him instantly. The men were visitors at the residence of John Cox, a brother of Jim, who was giving a dinner in honor of the twenty-first birthday of Toney's son, Henry. The trouble began in a friendly scuffle between Henry Toney and Jim Cox. All parties concerned are substantial farmers. NIAGARA, July 14.-John W. Ferrier, wife and two children, of New York city, have been visiting in this city since last Wednesday. This morning Mr. and Mrs. Ferrier, with the two boys, the youngest four and one-half years old, drove down to the battery whirlpool rapids elevator, and started to take the ride down to the bottom of the gorge. The youngest child ran ahead of the party toward the elevator shaft, and before he could be checked, or his parents realized his danger, he disappeared, falling 210 feet. He was crushed in a fearful manner at the bottom.

8. July 15, 1893 The Morning News Savannah, GA

Article from The Morning News, July 15, 1893

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Tampa's Bank Receiver. Washington, July 14. The Comptroller of the currency has appointed J. B. Anderson receiver of the GulfNational Bank, of Tampa, Florida.

9. August 27, 1893 The Morning News Savannah, GA

Article from The Morning News, August 27, 1893

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THE SCARE OVER AT TAMPA. Business Prospects are Brighter and a Good Fall Trade Expected. Tampa, Fla. Aug. 26.-Since the recent scare over what was supposed to be yellow fever, but in reality turned out to be malarial troubles, our citizens are beginning to return. The scared look is dying on the faces of those who were not prepared to flee, and things have returned to their normal condition. The health authorities are commended for their prompt action in the matter, and our citizens ought to feel assured that if an epidemic should break out they would be warned in ample time to escape the dread disease. Health Officer Porter returned yesterday from Mullet Key, where he has been on an inspection tour to the quarantine station. The Markomania has been released, and she is now on her way to port. The diagnosis of the cases at quarantine station proved them to be only mild forms of malarial fever, and on that authority the steamer was allowed to go on her way. The authorities at Port Tampa are vigilant and all suspicious vessels are sent immediately to Tortugas. Yesterday found a small sloop at the dock which was immediately sent to the station. It contained only three or four persons. TRAVEL RESUMED. Quarantine restrictions have been raised against the port and travel has been resumed. Our citizens are inclined to be indignant at the many false reports sent from this place, as it has damaged the commercial interest of the city to an untold extent. No doubt many of the reports were only in the minds of those who were panicky and who left the city by first train, spreading the rumor that eight cases had developed in the city. The officials here would request that such persons stay out in smaller towns for an indefinite period or learn that silence is golden. The local press of the city aredoing much to keep down any excitement that false reports might create, and the managers of the Tribune and the Times are to be commended for the oil that has been poured on the recent troubled waters by their pens. BUSINESS IMPROVING. The business outlook for the city is growing brighter daily, and with the opening of Tampa Bay hotel on Dec. 1st, our business circles are imbued with new vigor and activity. The Gulf National Bank is reported to be getting in shape to resume business soon under the management of Dr. Anderson. Many of our citizens who were depositors are looking anxiously forward to the day when it opens for business again.

10. December 19, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, December 19, 1893

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Telegraphic Tersities. George De B. Keim, formerly vice-president of the Reading railroad, died in Philadelphia yesterday. J. W. Parker & Co., ship-brokers and ship-owners, New York, have assigned. The Comptroller of the Currency has declared a dividend of 45 per cent. (the first dividend) in favor of the creditors of the Gulf National Bank, of Tampa,

11. December 23, 1893 The Morning News Savannah, GA

Article from The Morning News, December 23, 1893

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FLORIDA. Several new buildings are in course of erection at Jasper. J. A. Lamb has bought out the livery firm of Lamb & Lamb, at Palmetto. William Gomm, merchant of Albion, has made an assignment, with Mr. McElven as assignee. Mr. Wilcox, of Brooksville, the young man who was hurt at Springstead's mills, died last Wednesday. The Hotel Cordova has been open just one month, and during that time nearly 600 persons registered. J. H. Dewey, formerly of Iowa, has purchased considerable property in Palmetto and contemplates building. Citrus county commissioners have appropriated $100 towards getting up a descriptive pamphlet to advertise the county. The Tampa Lumber Company IS shipping a large cargo of lumber to Indian Beach. Sarasota Bay, where large improvements are being made. Rev. J. B. Anderson, receiver of the Gulf National Bank. of Tampa. says he still holds fifty-three checks of the first dividend of the Gulf Bank that have not yet been called for. The civil case of A. H. Albritton, of Miakka, VS. J. H. Gillespie. before Judge Wimbish, at Braidentown, Monday, was continued, witnesses not having been properly summoned. In the circuit court at Gainesville Thursday the jury in the damage suit of J. W. Denoy against the Savannah. Florida and Western railway failed to agree. Denby sued for $10,000 damages for a broken leg, received last April. Robert Gamble, assistant superinten dent of the Charlotte Harbor division of the Florida Southern railway, who resigned some weeks ago, has. at the request of the road, deferred the effect of his resignation until spring. Ishac S. Craft. of Tampa, has let the contract for his new residence to Edenfield & Jetton for $1,863. The plans call for a pretty 2-story, seven room house, which will be located on the corner of Fourth avenue and Platt street. Arch Hague, Jr., who was stabbed by James Gardner. at Gainesvelle, Saturday night. is lying at the point of death. Both their fathers are prominent. Gardner is the son of a county judge. No arrests have been made. Gardner acted in self-defense. The democratic executive committee of Sanford has issued a cali for a mass convention to be held January 16. It is impossible to guess who will Le the lucky ticket holders. Quite a number of good men have discovered in themselves qualifications for the various offices to be filled. The Dunnellon Phosphate Company have recently added something near $100.000 worth of new machinery and buildings. They are shipping an immense quantity now. Best grade phosphate is quoted at $7 a ton. This company have just completed a very large storage building 40x400 feet. Preliminaries are in progress looking to the better opening of the upper St. Johns river. including fifteen miles of the Big Ekonlockhatchie river to a point near the new Owen Simmons bridge, for light draught steamers of the Clyde line, or any other water craft desiring to run in the trade. The most remarkable piece of mechanism which has been seen on the west coast in a long time, is the great dredge at Port Tampa. An endless chain propelled by ponderous machinery carries a line of stationary buckets which scoop up a load of sand as fast as they can be revolved. emptying it through pipes as big as a steamer S smoke stack. An unusually large number of families are looking for homes along the east coast. Last week Mrs. Ballard Blair. of North Carolina, went to Titusville and other points looking for a place to locate with her family. A few days ago she arrived with one of her children to see what St. Augustine. could offer. She now has the refusal of several places.

12. May 4, 1895 The Morning News Savannah, GA

Article from The Morning News, May 4, 1895

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FLORIDA. The State Dental Association is in session at Tampa. The new Catholic church at Hawthorn will be dedicated to-morrow. M. Davis of DeLand is selling out his dry goods store, and will move to Tampa for good. A postoffice is to be established in the northwest portion of St. Johns county, to be known as Evaville, with Miss Eva Zim as postmistress. Seventy-five convicts were received at the convict camps at Albion during the month of April. This is the largest number received in one month for many years. West Tampa has adopted a charter and will not unite with Tampa. The new cigar town will incorporate and make its own contracts for public improvements. Judge Broom has appointed John Frohawk to take the. place of Jeff Kurtz as sheriff of Volusia county until the vacancy is filled by appointment from the governor. While Mrs. J. N. Broughton of Pensacola was out Wednesday burglars broke into her residence, corner Fourth street and Sixth avenue, and carried off a lot of clothing, jewelry and other valuables. The carpenters of Tampa, who are strong in numbers, consider the nine-hour day preferable to the ten hours during the summer months. Some of the contractors have signified their willingness to the proposition. Leon Hale, who recently arrived at Orlando from San Antonio, Tex., and purchased the drug business of Dr. J. N. Butt on Orange avenue, has closed a trade for Dr. R. H. Peal's business on Pine street. The Plant Investment Company has purchased the Pinellas hotel property. at Point Pinellas. The company contemplates building a fine hotel and an electric road connecting with St. Petersburg, one and a half miles distant. A thorough canvass of the votes cast by the property holders at the election at Tampa Thursday for bonds for a temporary loan reveals the lightest vote cast at Tampa since it was a village. However, the majority clearly showed the general feeling; out of 270 votes 260 were for the bonds. The contract for the bridge was let to the Florida Dredging Company by the former council just before their retirement. The estimated cost was $45,000, the contractors agreeing to build the bridge at cost price, providing that they be allowed 5 per cent. on the cost for doing the work. The fourth dividend of the defunct Gulf National Bank of Tampa was paid Thursday by Receiver J. B. Anderson. This establishes much credit for Mr. Anderson. as this 85 per cent. that has now been paid is a most enviable record for him as a receiver. Tobias Switzer, father of C. R. Switzer, vice president of the First National Bank of Orlando, died Thursday morning at the latter's residence near Winter Park, in the 71st year of his age. The