gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6179b85ddc63b1cc
Response Measures
Borrowed from banks or large institutions, Full suspension, Books examined
Clearinghouse involved: Yes
(loan, examination, or other measures)
Receivership Details
Depositor recovery rate
96.6%
Date receivership started
1887-11-15
Date receivership terminated
1901-06-10
OCC cause of failure
Excessive lending
Share of assets assessed as good
36.9%
Share of assets assessed as doubtful
59.1%
Share of assets assessed as worthless
3.9%
Events (5)
1.December 12, 1882Chartered
Source
historical_nic
2.November 7, 1887Run
Cause
Bank Specific Adverse Info
Cause Details
Run followed failure of director J. B. Rosenthal's wholesale millinery firm and revelations that directors were heavily indebted to the bank.
Measures
Closed doors to stop withdrawals until securities could be realized on; sought support from clearing house and correspondent banks.
Newspaper Excerpt
There was a run on the bank this morning which resulted in the closing until securities held by the institution could be realized on.
Source
newspapers
3.November 8, 1887Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after heavy withdrawals and discovery of irregular lending and false entries by cashier; directors heavily involved with indebted concerns.
Newspaper Excerpt
The Fifth National Bank of this city closed its doors to-day. ... A run upon it had been in progress since Friday.
Source
newspapers
4.November 15, 1887Receivership
Source
historical_nic
5.November 15, 1887Receivership
Newspaper Excerpt
The Comptroller of the Currency has appointed Lon V. Stephens receiver for the Fifth National Bank of St. Louis.
Source
newspapers
Newspaper Articles (22)
1.June 24, 1887Los Angeles Daily HeraldLos Angeles, CA
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EASTERN NEWS. e The Fidelity Bank in Government Hands. CHICAGO DERBY COMPETITORS Precautionary Measures to Prevent Pleuro-Prieumonia Among Cattle. Associated Press Dispatches to the HEBALD CINCINNATI, June 23.-Hon. W.L. Trenholm, Comptroller of Currency, who arrived hereto.day and took charge of the Fidelity National Bank, was interviewed this morning regarding its affairs. His suspicions had first been aroused in April last, when he discovered the Fidelity had "reserve accounts" of eighty country banks and its indebtedness to other banks was very large. When notice of the apparent connection of the bank with the Chicawheat deal was first given in the press the local examiner was directed to remain in Cincinnati and be ready to act. This was done when the checks were protested in New York. The receiver has not been appointed, but will be by Treholm. No definite statement of the bank's affairs can be made until after the receiver takes charge. The Gov. ernment had acted as soon as there was tangible evidence of wrong doing. The sensational feature of to-day's proceedings was the surrender late this afternoon of E. L. Harper and E. Hopkins by their bondsmen. Desperate efforts had been made by them to-night to get new bondsmen, but at a late hour they were unsuccessful. LATEST NEWS. Harper and Hopkins being unable to get bondsmen, went to jail about midnight. A ST. LOUIS DEBT. ST. LOUIS, June 23.-The funds in the Fifth National Bank of this city, belonging to the Fidelity Bank of Cincionati, were garnisheed to-day at the instance of the Union National Bank of Cleveland, to satisfy a debt of $25,000. ARREST NOT ORDERED. WASHINGTON, June 23.-At the office of the Comptroller of the Currency it is said no instructions have been sent to Cincinnati for the arrest of the officers of the Fidelity National Bank, beyond the general instructions sent to the examiner there to take every precaution to prevent the escape of any officers who may be criminally guilty. WILSHIRE ARRESTED. This evening J. W. Wilshire, the broker who took the checks of the Fidelity Bank to Chicago to try to hold up the market, was also arrested, charged with aiding the wilful and unlaful misapplication of the funds of the bank. He gave bond in $35,000.
NATIONAL ANK SUSPENDS. A Big Run Causes It to Close Its Doors. Bad Management. Sr. LOUIS Nov. 7.-The Fifth National Bank clcsed its doors at 1:15 P. M. tc-day. T. B. Rosenthal, Joseph Specht and Marcus Wolffe are directors of the bank. The latter has brought two suite of attachment against T. B. Rosenthal, aggregating $71,000, and it is thought that Rosenthal was indebted to the bank to n considerable amount. The bank is situated at 700 North Broadway, and had a capital stock of $390,000. The usual deposita amounted to about $400,000. On Friday they had to meet a heavy. run, and 89 the depositora continned to withdraw their funds to-day the bank closed its doors A few minute before 1 o'clock. Henry Overstoltz, former Mayor of this city, is President, and O.C. Crecelius is Cashier. The President of the bank has been sick ior some time and the management has been entirely in the hands of the directore, some of whom now appear to be quite heavily indebted to the bank.
3.November 8, 1887The Morning NewsSavannah, GA
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A ST. LOUIS BANK CLOSED. Directors Heavily Indebted to the Institution. ST. LOUIS, Nov. -The Fifth National Bank of this city closed its doors to-day. It had a capital of $325,000 and usually carried about $1,130,000 in deposits. A run upon it had been in progress since Friday. Henry Overstoltz, former Mayor of the city, was President, and C. C. Crecilus cashier. The President has been sick for some time, and the management has been entirely in the hands of the directors, some of whom now appear to be quite heavily indebted to the bank. The failure affects several firms in this city to some degree, and three concerns whose names have not transpired, are reported to be crippled. It is claimed that depositors will be paid in full.
4.November 8, 1887Rock Island Daily ArgusRock Island, IL
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A ST. LOUIS BANK IN TROUBLE, Because a Director Fails in His Millinery Business-The Doors Closed. ST. LOUIS, Mo., Nov. S.-The doors of the Fifth National bank were closed Monday afternoon. There was a run on the bank in the morning, which resulted in the closing until securities held by the institution could be realized on. The immediate cause of the rush is supposed to be the failure of the wholesale millinery establishment of Rosenthal & Co. last week, I. B. Rosenthal being one of the directors of the Fifth National bank. The bank is believed to be heavily involved. The capital stock of the bank was $500,000, and the deposits are upward of $1,000,000. The bank had to meet a heavy run Friday, and as the depositors continued to withdraw their funds Monday, the bank closed its doors a few minutes before 1 o'clock. Henry Overstoltz, formerly mayor of this city, is president, and C. C. Crecelins cashier. Mr. Overstoltz has been sick for some time, and the management has been entirely in the hands of the directors, some of whom now appear to be quite heavily indebted to the bank. The failure affects several firms in this city to some degree, and three concerns whose names have not transpired are reported to be crippled. It is claimed that depositors will be paid in full. Within the last month the stock of the bank has been sold at 105 and Monday morning it found a ready market at 95.
5.November 8, 1887St. Paul Daily GlobeSaint Paul, MN
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A St. Louis Bank Fails. Special to the Globe. ST. LOUIS, Nov. 7.-The rumored closing of the doors of the Fifth National bank is verified. There was a run on the bank this morning which resulted in the closing until securities held by the institution could be realized on. The immediate cause of the crash is supposed to be the recent failure of the wholesale millinery establishment of Rosenthal & Co. last week, J. B. Rosenthal being one of the directors of the Fifth National bank.
6.November 8, 1887Evening StarWashington, DC
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The Fifth National Bank of St. Louis closed its doors yesterday. It has a capital stock or $390, 000 and the usual deposits, amounting to $400,000. A heavy run on the bank precipitated the closing of the doors. At Milwaukee John Jamber, convicted of attempting to kill ex-Mayor Leco by throwing a dynamite bomb at him, has been sent to prison for ten years. Mayor Fitler, of Philadelphia. and other municipal officers paid a visit yesterday to the French flagship Minerve, now lying in the Delaware. The visitors were received by Admiral Vignes, and the usual courtesies were exchanged. A dispatch from San Remo says: "Dr. Mackenzie states that a renewal of discharge or pus from the crown prince's throat renders necessary a ditficult and complicated cutting operation on the larynx." The printers in the four leading job printing estabilishments in Louisville struck yesterday because composition was not advanced to 421/6 cents per thousand. Myron Severance, a train-robber, has been captured at Ortonville, Minn., and held to await extradition papers from Nebraska. The rest of his gang, five in number, are now in prison.
7.November 9, 1887The Waco Daily ExaminerWaco, TX
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The Firth National Smash. ST. LOUIS, Nov 8.-Forman, the Du Quoin, Illinois bank examiner. touk charge of the Fifth National bank to day and will wind up its affairs. He 88V8 the depositors will be paid in full and the stockholders will realize about 70 per cent. On Saturday the bank borrowed $20 000 of the Continental bank on security in response to the demand from the clearing house This they thought would tide them over until Monday. On Monday they were surprised at the demand of $40,000 from the clearing house and on injutry found that Charles H. Green had checked out his whole deposit of $40,000. The Continental became satisfied that it would take $250,000 cash to tide the bank through, and they could not advance that amount 80 the Fifth Nationalsuspended and returned $12 000 to the Continental and gave security for the balance. The bank sent up to the Clearing house checks on other banks amounting to $110,000 to balance checks against it. But this was only 63 per cent of the dempnds, and the clearing house man agers decided not to pay anything on the/checks until the receiver is appointed. It now transpires that the bank was troubled by the refusal of 8 New York bank to honor its draft and by the publicat 0 of 8 paragraph saying that the bank's stock was being sold on the streets. The cause of the failure was indiscriminate lending of money to business concerns which were doing large business on small capital. They have been carrying wholesale and retail concerns which have been doing 8 losing business.
8.November 9, 1887Press and Daily DakotaianYankton, SD
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DEPOSITS OVER.A MILLION AND THE CAPITAL STOCK HALF A MILLION DOLLARS. The Fifth National Bank, of St. Louis, in Sympathy With One of Its Ruined Directors, Is Forced to Close Its Doors to Realize on Securities. ST. LOUIS, Mo., Nov. 8. -The rumored closing of the doors of the Fifth National bank are verified. There was a run on the bank Monday morning, which resulted in the closing until the securities held by the institution could be realized on. The immediate cause of the crash is supposed to be the failure of the wholesale millinery firm of Rosenthal & Co., last week. J. B. Rosenthal being one of the directors of the Fifth National bank, the bank is believed to be heavily involved The capital stock of the bank was $500,000 and the deposits areupward of one million.
9.November 10, 1887The Portland Daily PressPortland, ME
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GENERAL NEWS. The Nashville flour factary has assigned. Assets valued at $64,175; liabilities, $55,328. The St. Louis Planing Mill Company has failed on account of the collapse of the Fifth National Bank. Cashier C. C. Crecilius, of the St. Louis Fifth National Bank, which is embarrassed, has been arrested for making false entries to a large amount. The recent conference of Provincial ministers adopted resolutions in favor of reciprocity, declaring that it would not lessen Canada's loyalty to the mother country. Congressman Geo. D. Wise and Editor Wm. H. Mullen, of ther Labor Herald, had an encounter on the streets of Richmond yesterday, and were fined in the police court to-day. E. F. Searles, who is reported to have married Mrs. Mark Hopkins, the possessor of $20,000,000, is 45 years old. He belonged to a New York firm of house furnishers and has done a great deal of work for Mrs. Hopkins. President King, of the Erie Railroad, received a threatening letter Tuesday signed "A Desperate Devil," and threatening violence unless five hundred dollars were given up. Detectives have afrested a crank named Campbell.
Bursted (by telegraph to the Ashoville Citizen.) ST. LOUIS, Nov. 9.-Developments in the Fifth National Bank suspension shows fraud and forgery, and the Cashier C. C. Crececius is now under arrest charged with false entry and forgery. The President would be arrested if not on his death bed.
ANOTHER BANK FAILURE. The Fifth National Bank of St. Louis Closes Its Doors. ST. LOUIS, Nov. 9.-The rumored closing of the doors of the Fifth National bank is verified. There was a run on the bank in the morning which resulted in the closing until securities held by the institution could be realized on. The immediate cause of the crash is supposed to be the recent failure of the wholesale millinery establishment of Rosenthal & Co. last week, J. B. Rosenthal being one of the directors of the Fifth National bank.
12.November 10, 1887St. Paul Daily GlobeSaint Paul, MN
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A Planing Mill Failure. ST. LOUIS, Nov. 9.-The St. Louis Planing Mill company has failed on account of the collapse of the Fifth National bank. It is feared that another business house will be compelled to suspend this week on account of complications growing out of the bank failure.
13.November 11, 1887Press and Daily DakotaianYankton, SD
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The Cashier Arrested. ST. LOUIS, Mo., Nov. 10.-Cashier C. Crecelius, of the suspended Fifth National bank, has been arrested on information made by Bank Examiner Forman. charging him with falsifying his accounts and making false reports to the comptroller of the currency. Ex-Mayor Overstoltz, the president of the bank, is lying at the point of death, or he would probably have been arrested. Crecelius' bond has been fixed at $25,000, which his friends are trying to raise.
14.November 15, 1887Evening StarWashington, DC
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RECEIVER FOR THE ST. LOUIS BANK.-The Controiler of the Currency has appointed Lon V. Stephens receiver for the Fifth National Bank or St. Louis.
Bank Receiver Appointed, Sr. LOUIS, Nov. 15.-Lon F. Stephens, of Boonyille, Mo., was appointed Receiver of the Fifth National Bank this morning. It is reported that the grand jury has found an indictment of making false entries against Cashier C. O. Crecilius.
16.November 16, 1887The True NorthernerPaw Paw, MI
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ern Indiana and Illinois, wells have given out and streams have dried up, so that in some places people are compelled to go several miles for drinking water. ON the complaint of the Bank Examiner, Cashier C. C. Crecilius, of the suspended Fifth National Bank of St. Louis, has been arre ted on charges of fraud and forgery. It is alleged that fifty entries were found to have been changed; that his reports to the bank directors were false, and that he carried, with out security, five firms for sums ranging from $50,000 to $150,000.
Latest News. The Morning Echo at Waco has been suspended for want of cash. United States circuit and district courts meet in Waco next Monday. The Fifth National Bank of St. Louis has gone into the hands of a receiver. Pincus & Rosenfield, a retail clothing firm of Galveston, were closed by attachment yesterday. A woman living in Racine, Wisconsin, claims to have been the lawful wife of Anarchist Engel. Apachie Indians are reported to be making raids on the ranches and mining camps in New Mexico. One hundred and fifty-seven head of horses were cremated at a fire in Brooklyn, N. Y., last Monday night. A gold mine discovered ten miles from Prescott, A. T., averages $1000 per ton. This is said to be the richest find in the world. Six parties have been arrested at Jefferson charged with the killing of Peter Wright, which occurred at that place last Friday.night. An engine exploded on the New York Central Railroad Monday morning. The fireman was blown twentyfive feet into the air and instantly killed. Commissioner of the General Land Office Sparks has finally resigned his office. He defends his position and says the issue raised by him was strictly one of law. In his annual report Gen. P. H. Sheridan recommends that congress consider the advisability of opening up at least a portion of the Oklahoma country to settlers. A street car driver at Houston while ejecting a boy from his car who was stealing a ride, received a serious cut in the arm from a kuife in the boy's hand, Monday evening. A negro near Texarkana fatally stabbed a prominent cotton planter Tuesday morning. The planter's son secured a shot gun and discharged both barrels into the negro. Both will die. Texarkana will ask an appropriation of $80,000 for a public building at the next session of congress. In order to keep down factions the building will be erected over the boundary line between Arkansas and Texas. The effects of Tom Green county's fine exhibit at the Dallas Fair is being felt in that section already. Parties from different sections are making efforts to secure property in the portion of country represented through the fair. John Tolar, eldest son of Dr. Alf Tolar, died at his home in Abilene a Monday night after short illness He was a practical printer, consumptive inclined, and to close confinement at the case is attributed his untimely death. It is announced that the Amnesty Society, of Chicago, will assume the responsibility of providing for the families of the dead anarchists. A permanent fund for this purpose and the defense of those likely tc got into future trouble over anarchy is to be started. The organization for these purposes is intended to be made national. The award for building the Waco Brazos public free bridge has not yet been made. Thirteen bids for the construction of the same were presented to the commissioners yesterday. The highest bid was $64,000 and the The to lowest: $49,500. bridge feet wide, is have a road bed twenty a pedestrian way. and is to be iron on stone piers. Detectives have succeeded in catching up with the parties who for a year have carrying on a system-
Receiver of St. Loan' Fifth National, ST LOUIS, Mo., Nov. 15-L. F. Stephens of Boonville, Mo., was apointed receiver of the Fifth National Bank this norning. It is reported that the grand jury has found an indictment for making false entries against C. C. Cicreleus, cashier.
19.November 30, 1887The Memphis AppealMemphis, TN
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Hery Overstoltz, president of the defunct Fifth National bank and ex-mayor of St. Louis, died yesterday morning at 6 o'clock of heart trouble. He did not know the bank had suspended. The flags of the city have been ordered at half mast.
20.November 30, 1887The Salt Lake HeraldSalt Lake City, UT
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Died in Ignorance. ST. LOUIS, November 29.-Henry Overstoltz, president of the defunct Fifth National Bank, and ex-mayor, died this morning of heart trouble. He did not know the bank had suspended. The flags of the city have been ordered at half-mast.
21.January 7, 1888The Forrest City TimesForrest City, AR
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1. Gasoline explosion in a grocery store in St. Louis, nine persons being killed and several injured. 2. The United States Supreme Court refuses a writ of error to the condemned Chicago anarchists. 6. Four bombs found in the cell of Lingg, the anarchist, in Chicago. 7. The Fifth National Bank in St. Louis suspends on account of irregularities on the part of some of its officials. Engel, one of the condemned anarchists, attempts suicide in Chicago. 8, Elections held in many States. 10. Gov. Oglesby, of Illinois, commutes the death sentences of Schwab and Fielden to imprisonment for life. Lingg, one of the anarchists, kills himself by exploding a small bomb in his mouth. Rev. Dr. McCosh resigns the presidency of Princeton College. 11. Anarchists Spies, Engel, Parsons and Fischer hanged in Chicago. 13. Riot in London caused by the prevention of a mass-meeting of unemployed persons in Trafalgar Square. 14. Gen. d'Andlau, Mme Ratazzi and Mme. Courtenil sentenced in Paris to various terms of imprisonment for connection with the sale of decorations. 15. Resignation of Land Commissioner Sparks. 16. Jack McAuliffe and Jem Carney fight to a draw near Boston. Four hundred passengers lost by the burning of the Chinese steamer Wan Yeung, in the Canton River. 17. Most, the anarchist, arrested in New York for making incendiary speech. Five persons fatally and twelve badly burned from the explosion of a gasoline lamp in Philadelphia. 19. The steamer W. A. Scholten sunk in the English Cannel by a collision with the steamer Rosa Mary, and 125 persons drowned. 20. The winter quarters of Barnum & Balley's circus, at Bridreport, Cump, with ave elephants and DIADY other
22.June 25, 1889The Sedalia Weekly BazooSedalia, MO
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We print elsewhere a clipping from the Globe Democrat concerning Col. Lon V. Stephens' management atthe defunct Fifth National Bank, at St. Louis. Ninety-five per cent to the depositors of a thoroughly wrecked bank bespeaks excellent financial manaagement in the receiver.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
