Merchants National Bank (Helena, MT)

View Charter #2732 on SPMC View balance sheet

Episode Information

Episode Type
Run Only
Start Date
July 27, 1893
Location
Helena, Montana (46.593, -112.036)
Bank Type
national
Charter Number
2732

Metadata

Episode ID
Bank ID
City ID
300802116
Model
gpt-5-mini
Short Digest

Response Measures

Accommodated withdrawals, Capital injected

Receivership Details

Depositor recovery rate
66.0%
Date receivership started
1897-06-02
Date receivership terminated
1903-06-17
OCC cause of failure
Losses
Share of assets assessed as good
37.3%
Share of assets assessed as doubtful
45.4%
Share of assets assessed as worthless
17.3%

Events (3)
1. June 14, 1882 Chartered
Source
historical_nic
2. July 27, 1893 Run
Cause
Local Banks
Cause Details
Run triggered by failure/suspension of First National and Montana National banks in Helena.
Measures
Paid depositors promptly; large depositors redeposited funds; officers expressed confidence they could stand the run.
Newspaper Excerpt
The run is now confined principally to the Merchants' National bank, which is paying everybody.
Source
newspapers
3. June 2, 1897 Receivership
Source
historical_nic

Newspaper Articles (10)
1. July 27, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 27, 1893

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Article Text

Two More Banks Flicker

HELENA, Mont., July 27.-The First National and Montana National banks, failed to open this morning and a run is now in progress on the other banks of the city. At 11 o'clock this morning the run is now confined principally to the Merchants' National bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but it cannot be realized. S. T. Houser is president of the First National; capital stock is $500,000; surplus, $100,000; undivided profits, $600,000, and average deposits, $3,250,000. John T. Murphy is president of the Montana National bank; capital stock is $500,000; surplus $100,000; undivided profits $100,000 and average deposits $1,500.000.

2. July 27, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 27, 1893

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Article Text

FINANCIAL FAILURES

A Run on Helena, Montana, Banks Today. HELENA, Mont., July 27.-The First National and Montana National banks failed this morning. A run is in progress on the other banks. The run is new confined principally to the Merchants' National, which claims to be able to stand. The closed

3. July 27, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, July 27, 1893

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Article Text

TWO BANKS FAIL

A Heavy Run in Progress on Other Helena Banks. By Associated Press to the News. HELENA, Mont., July 27 -The First National and Montara National banks fa led to open this morning. A run is in progress on the other banks of the city. 11 a. m.-The run is now confined principally to the Merchants' National bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets but cannot realize. S. T. Hauser is president of the First National. The capital stock is $500,000; surplus $100,000; undivided profits, $600,000 and average deposits $3,250,000. John T. Murphy is president of the Montana N tional. The capital stock is $500,000, surplus $100,000; undivided profits, $100.000, and average deposits $1,500,000.

4. July 28, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, July 28, 1893

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Article Text

THE HELENA BANKS SQUEEZED

HELENA, Mont., July 27.-The First National and the Montana National banks failed to open their doors this morning. In consequence a run on the other banks of the city quickly commenced. The two closed banks Lave ample assets, but cannot realize on them. The capital stock of the First National bank is $500,000 and it has a surplus of $100,000, undivided profits of $60,000 and deposits of $3,250,000. The Montana National also has a capital of $500,000, with a surplus of $100,000, undivided profits of $100 000- and average deposits of $1,500,000. The run on the other banks was soon confined principally to the Merchants' National bank. The depositors at this bank were paid promptly. and the officers are confident that they will be able to stand the run.

5. July 28, 1893 The Morning News Savannah, GA
Article from The Morning News, July 28, 1893

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Article Text

TWO HELENA BANKS CLOSE

The Assets of Each Largely in Excess of Their Liabilities. Helena, Mont., July 27.-The First National and Montana National banks failed to open this mornings A run is in progress on the other banks of the city. The First National Bank has assets over $1,000,000 in excess of its liabilities. The Montana Bank has $850,000 in excess of its liabilities They simply could not get currency enough to meet the demands. The Merchants' National stood a three hour's run and then received in deposits more cash than had been withdrawn. There was no run on the other banks.

6. July 28, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 28, 1893

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Article Text

Montana Banks

HELENA, Mont., July 27.-The First National and the Montana National banks failed to open this morning. A run is now in progress on other banks of the city. 11 a. m.-The run is now confined principally to the Merchants' National bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but can not realize. S. T. Hauser is president. of the First National. The capital stock is $500,000, surplus, $100,000; undivided profits, $600, 000, and average deposits, $3,250,000. John T. Murphy is president of the Montana National. The capital stock is $500,000; surplus, $100,000; undivided profits, $100,000, and average deposits, $1,500,000.

7. July 28, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 28, 1893

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Article Text

HELENA BANKS

The First National and Montana National Close Their Doors. HELENA, Mont., July 27.-The First National and Montana National banks failed this morning. A run is in progress on the other banks. The run is now confined principally to the Merchant's National, which claims to be able to stand. The closed banks have ample assets but could not realize. S. Houser is president of the First National, capital stock, $500,000; surplus, $100,000; undivided profits, $600,000; and average deposits $3,250,000. John T. Murphy is president of the Montana National. It has a capital stock of $500,000; surplus $100,000, undivided profits $100,000; average deposits $1,500,COO. It is claimed the assets are $1,300,000; liabilities $000,000. Officers say eventually they will pay in full. The First National paid out over $1,000,000 the past week and the Montana paid out nearly $500,000. The other banks are standing the run well, the heaviest is on the Merchants National but big depositors came to the rescue and deposited faster than it was paid out, and the excitement is subsiding. The failed banks are among the oldest and strongest in the city. Both had ample assets but could not realize fast enough. C. W. Camon, 0. M. Halter and S. C. Ashley, all leading capitalists, have made personal assignments.

8. August 2, 1893 Watertown Republican Watertown, WI
Article from Watertown Republican, August 2, 1893

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Article Text

TWO HELENA BANKS FAIL

Financial Crash Experienced in the Metropolis of Montana. HELENA, Mont., July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city. The run is confined principally to the Merchants' National Bank which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets but cannot realize on them. D. S. Hauser is president of the First National, The capital stock is $500,000; surplus, $100,000; undivided profits, $600,000, and deposits, $3,250,000. John I. Murphy is president of the Montana National. The capital stock is $500,000; surplus, $100,000; undivided profits, $100,000, and deposits, $1,500,000. PORTLAND, Ore., July 27.-The Oregon National Bank and the Northwest Loan and Trust Company, kindred institutions, failed to open their doors this morning. A notice on the door says: "Owing to withdrawal of deposits and the inability to realize on securities this bank is forced to suspend." MIDDLESBORO, Ky., July 27.-The First National Bank of this place closed its doors this morning. The notice upon the door reads: "This bank closed by order of directory."

9. August 3, 1893 Eagle River Review Eagle River, WI
Article from Eagle River Review, August 3, 1893

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Article Text

TWO HELENA BANKS FAIL

I Financial Crash Experienced In the Metropolis of Montana. HELENA, Mont., July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city. The run is confined principally to the Merchants' National Bank which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets but cannot realize on them. D. S. Hauser is president of the First National, The capital stock is $500,000; surplus, $100,000; undivided profits, $600,000, and deposits, $3,250,000. John I. Murphy is president of the Montana National. The capital stock is $500,000; surplus, $100,000; undivided profits, $100,000, and deposits, $1,500,000. PORTLAND, Ore., July 27.-The Oregon National Bank and the Northwest Loan and Trust Company, kindred institutions, failed to open their doors this morning. A notice on the door says: "Owing to withdrawal of deposits and the inability to realize on securities this bank is forced to suspend." Middlesboro, Ky., July 27.-The First National Bank of this place closed its doors this morning. The notice upon the door reads: "This bank closed by order of directory."

10. August 5, 1893 The Kootenai Herald Bonners Ferry, Kootenai, ID
Article from The Kootenai Herald, August 5, 1893

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Article Text

Bank Failures in Helena

HELENA, July 27.-The First National and Montana National banks suspended payment today. There was a slight run on the Merchants' National, but the funds were ample to meet it. and no other banks were troubled at all.