First National Bank (Deming, NM)

View Charter #3160 on SPMC View balance sheet

Episode Information

Episode UID
316001106
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
31600 national
Charter Number
3160
Start Date
February 4, 1892
Location
Deming, New Mexico (32.269, -107.759)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7ec5aa52b16af008

Response Measures

None

Receivership Details

Depositor recovery rate
45.5%
Date receivership started
1892-02-29
Date receivership terminated
1901-08-28
OCC cause of failure
Fraud
Share of assets assessed as good
9.3%
Share of assets assessed as doubtful
78.6%
Share of assets assessed as worthless
12.1%

Description

Closed by Comptroller order and later placed in receivership; linked management with Silver City bank.

Events (4)
1. April 22, 1884 Chartered
Source
historical_nic
2. February 4, 1892 Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller of the Currency; suspension was unexpected and caused excitement.
Newspaper Excerpt
Under orders from the Comptroller of the Currency the First National Bank of Silver City and the First National Bank of this city... have been closed.
Source
newspapers
3. February 29, 1892 Receivership
Source
historical_nic
4. March 1, 1892 Receivership
Newspaper Excerpt
The controller of the currency has appointed Mr. Isaac M. Smith ... receiver of the First National Bank of Deming and of the First National Bank of Silver City.
Source
newspapers

Newspaper Articles (22)
1. February 4, 1892 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, February 4, 1892

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Article Text

Like Our Sam. DEMING, N. N., Feb. 4.-Under orders from Comptroller of Currency Lacy the doors of the First National bank of Silver City and the First National bank of Deming have been closed. Capital stock of former $60,000; latter $100,000. The two institutions are under the control of the same president, C. H. Dane, of this place, and the stockholders are largely identical. The suspension caused great excitement. So strong was the sentiment that the bank would pay all creditors in full that at a mass meeting held in the opera house a few moments after the suspension became known, resolutions of confidence were adopted.

2. February 4, 1892 Evening Capital Journal Salem, OR
Article from Evening Capital Journal, February 4, 1892

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Article Text

NATIONAL BANK SUSPENDS. DEMING, N. M., Feb. 4.-Under orders from the comptroller currency, the First National bank of Silver City, and the First National bank of this city, both under, practically the same management, are closed. The suspension was unexpected, and caused much excitement. The cause of the failure is unknown. A strong feeling of confidence among business men exists, that the bank here will pay all credItors in full.

3. February 4, 1892 The Olympia Tribune Olympia, WA
Article from The Olympia Tribune, February 4, 1892

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Article Text

Two Banks Closed. DEMING, N. M., Feb. 4.-Under orders from the comptroller of the currency, the First National bank of Silver City and the First National bank of this city, both under practically the same management, were closed. The suspension was unexpected and caused much excitement, The cause of the failure is unknown. A strong feeling of confidence among business men exists that the bank here will pay all creditors in full. The assets are unknown and officials decline to make any statement. The capital stock of the Deming bank is $100,000, and of the Silver City bank, $50,000.

4. February 5, 1892 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, February 5, 1892

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Article Text

THE JUDGE RECOVERS HIS MIND. Later. The reports from Glasgow today say that Judge Bitter has recovered his mind, and that he can show that the money he obtained from the bank was in due form a loan and not misuse of the bank's money. TWO NEW MEXICAN BANKS CLOSED. Their Failure Unexpected and the Cause or Much Excitement. (By telegraph to the Dispatch.) DEMINO, N. M., February 4.-Under or. dera from Comptroller of the Currency Lasey, National Bank Examiner Lazara has closed the doors of the First National Bank of Bilver City, and the First National Bank of Deming. The two institutions are under H. the control of the same president, C. Dane. of this city, and the stockholders are largely identical. The suspension was

5. February 5, 1892 The Waco Evening News Waco, TX
Article from The Waco Evening News, February 5, 1892

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Article Text

Banks Closed. DEMING, N. M., Feb. 5.-Under order from Comptroller of the Currency Lacy the doors of the First National bank of Silver City and the First National bank of Deming have been closed. The capital stock of the former is $60,000, the latter $100,000. The two institutions are under the control of the same president, C. H. Dane of this place and the stockholders are largely identical. The suspension caused great excitement. So strong was the sentiment that the bank would pay all the creditors in full that at a massmeeting held in the opera house a few moments after the suspension became known, resolutions were adopted expressing entire confidence in the solvency of the institution, and stating if the present management continued all claims will be settled. The cause of the failure is unknown, also the liabilities.

6. February 5, 1892 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, February 5, 1892

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Article Text

New Mexico Banks Closed. DEMING, N. M., Feb. 4.-Under orders from the comptroller of the currency, the First National bank of Silver City, and the First National bank of this city, both under practically the same management, were closed. The suspension was unexpected and caused much excitement. The cause of the failure is unknown. A strong feeling of confidence among business men exists that the bank will pay all creditors in full. Its assets are unknown, and the officials decline to make any statement. The capital stock of the Deming bank is $100,000, and of the Silver City bank $50,000.

7. February 5, 1892 The Morning Call San Francisco, CA
Article from The Morning Call, February 5, 1892

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Article Text

Banks Closed. DEMING (N. Mex.), Feb. 4.-Under orders from the Comptroller of the Currency, the First National Bank of Silver City and the First National Bank of this city, both under practically the same management, have been closed. The suspension was unexpeeted, and caused much excitement. The cause of the failure is unknown. A strong feeling of confidence among business men exists that the bank here will pay all the creditors in fuil. The assets are unknown, and the officials decline to make any state-

8. February 5, 1892 The Helena Independent Helena, MT
Article from The Helena Independent, February 5, 1892

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Article Text

Two Banks Under One Managemen t. DEMING, N. M., Feb. 4.-Under ord ers from the comptroller of the currency, the First National bank, of Silver City, and the First National bank, of this city, both under practically the same management, have been closed. The suspension was unexpected and caused much excitement. The cause of the failure is unknown. A strong feeling of confidence among business men exists that the bank here will pay all its creditors in full. The assets are unknown and the officials decline to make any statement. The capital stock of the Deming bank is $100,000, and of the Silver City bank $50,000.

9. February 5, 1892 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, February 5, 1892

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Article Text

Two New Mexican Banks Closed. DEMING, N. M., Feb. 4.-Under orders from the comptroller of the currency the First National bank of Silver City, and the First National bank of this city, both under practically the same luanagement, have been closed. The suspension was unexpected and caused much excitement. The cause of the failure is unknown. A strong feeling of confidence among business men exists that the bank here will pay all creditors in full. The assets are unknown and the officials decline to make any statement. The capital stock of the Deming bank is $100,000, and of the Silver City $50,000.

10. February 18, 1892 Lewiston Teller Lewiston, ID
Article from Lewiston Teller, February 18, 1892

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Article Text

FRAIL INSTITUTIONS. Two National Banks of New Mexico Closed by the Comptroller. DEMING, N. M., Feb. 4.-Under orders from the comptroller of currency the First National bank of Silver City and the First National bank of this city, both under practically the same management, have closed. The suspension was unexpected and has caused much excitement. The cause of the failure is unknown. A strong feeling of confidence among the business men exists that the bank here will pay all creditors in full.

11. March 1, 1892 Evening Star Washington, DC
Article from Evening Star, March 1, 1892

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Article Text

RECEIVER APPOINTED. - The controller of the currency has appointed Mr. Isaac M. Smith of McIndoe's Falls, Vt., receiver of the First National Bank of Deming and of the First National Bank of Silver City, both in the territory of New Mexico.

12. March 2, 1892 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, March 2, 1892

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Article Text

Bank Receiver. The comptroller of the currency has appointed A. C. M. Smith, McIndoes Falls, Vt., receiver of the First national bank of Deming and First national bank of Silver City, both in New Mexico.

13. March 2, 1892 The Providence News Providence, RI
Article from The Providence News, March 2, 1892

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Article Text

Vermont Man Given Office, WASHINGTON, March 2.-The controller of the currency has appointed Isaac M. Smith of McIndoes Falls, Vt., receiver of the First National Bank of Deming, and of the First National Bank of Silver City, both in New Mexico.

14. March 3, 1892 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, March 3, 1892

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Article Text

RECEIVER OF TWO BANKS. WASHINGTON, March 1.-The controller of currency appointed A. C. M. Smith, McIndoe+ Falls, Vt., receiver of the First National bank at Deming and the First National bank at Silver City, both in New Mexico.

15. March 6, 1892 Tombstone Epitaph Tombstone, AZ
Article from Tombstone Epitaph, March 6, 1892

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Article Text

A RECEIVER APPOINTED. WASHINGTON-The controller of the currency has appointed Mr. J. M. Smith of McIndos Falls, Vt., receiver of the First National bank of Deming. and of the First National bank of Silver City, both in New Mexico.

16. August 12, 1892 Las Vegas Free Press Las Vegas, NM
Article from Las Vegas Free Press, August 12, 1892

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Article Text

TERRITORIAL 1. A new national bank is soon to be t opened in Santa Fe. M. C. Freeman, e cashier of the Denver National bank, e is at the head of the project. The Union Pacific will extend its S line a few miles more down Red h . river, from Catskill, on account of 1 the large bodies of splendid timber. t The water company is not yet able to supply water enough for all the stamps at the Pacific mill. Ten stamps were in operation last week, but it is thought there will be water I : enough to supply all of them in a t few days. e The Consolidated Mimbres company's mill on the Mimbres river, near Georgetown, will be closed e down about the last of this month, and the company will suspend operations in the mines. Miners who hold leases will continue to work. A big concentrating plant is to be put in at the Bennett-Stephenson mine in the Organ mountains. A pipe line over two miles in length will be put in, through which the water supply for the plant will be obtained. The stockholders in the First National bank at Deming have until next Monday to pay an assessment of 82 per cent on their stock. The bank had a capital of $100,000, and if the assessment should be paid there will be $82,000 to be paid to the creditors of the bank. Mr. A. Clauson is having quite a streak of luck with bees. At his ranch on the Sugarite, one hive of bees has produced four swarms this season. What can be more convincing than this that here is the place for bee culture ?-Raton Range. The Miles Standish mine, at Lake Valley, has been bonded to Col. P. Mothersill for $30,000. This is believed to be the best mining property in Lake Valley outside the mines owned by the Silver Mining company. It has produced over $25,000 of ore, and is a very promising mine. A. C. Carwile and wife left for Iowa last week. Mr. C. had apparently recovered from his latest at. tack, and may recover entirely. His first attack, at Albuquerque, was much more violent than the subsequent one, here, when he went to Lone Monntain and stated that the Lord had told him to go to Cook's Peak. A change of climate and surroundings will no doubt be of material benefit to him.-Silver City Sentinel. Hon. Frank Springer, of Las Vegas, attorney for the applicants for an injunction against the Raton water works company taking water out of the Sugarite, had the injunction modified so as to allow the company to appropriate half the water flowing down that stream. Mr. Springer is too fair and just to ask for an unreasonable or oppressive order from the court. The people of Raton are indebted to him for his consideration.

17. January 7, 1893 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, January 7, 1893

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Article Text

GLANCE BACKWARD. Review of the Many Important Happenings of 1892. Heavy Business Failures, Startling Casualties and Horrible Crines-Industrial, Political and Sporting Events, Disastrous Fires of the Year, Etc. BUSINESS FAILURES. MORE DISASTROUS ONES NOTED-BANKS GENERALLY. Jan. 11-First national bank. of Muncie, Pa. Jan. 23-First national bank of Downs, Kan; $100,000. Jan 85-Bank of Jefferson at Shepherdstown, W. Va Jan. 29-Fall River county bank at Oelricks, S. D.; $30,000 Butler county bank at Chicora, Pa.; $60,000. Feb. 2-Commercial loan and savings bank at Kearney, Neb.: $150,000. Feb. 3-National bank of Silver City, and Feb. 4-Marcy, Geer & McCann's bank at Raton, N. M.; $800,000 First national bank of Deming, N. M. Feb. 6-Western Farm Mortgage Company at Denver; $1,000,000. Feb. 8 - Merchants' bank of Moorehead, Minn.: $175,000. Feb. 26-Newmarket (N. H.) savings bank suspended; $191.000. Mar 1-Lima (O.) national bank. Mar. 21-Painesville (O.) Savings and Loan Association bank. Mar. 24-American national bank of Birmingham, Ala. Apr. 15--Interstate national bank of New York. Apr. 27-Commercial bank of St. Paul, Minn.; $1,000,000. May 25-People's bank of Sea Isle City, N. J. June 4-Platte Valley bank at Central City, Neb. June 25-First national bank at Erie, Kan, Nesha county: losses, $30,000. Sep. 2--Nebraska State bank. at Crete. Sep. 23-Richmond (Me.) savings bank. Seu 21-People's bank at Hope, Ark Oct. 17-Two Nebraska state banks, one at Ainsworth, the other at Springview. Oct. 27-Hot Springs (Ark.) Valley bank (pri-, vate); $80,000. Nov. 5-Continental bankat Kansas City, Mo. Nov 30-Stone City bank, of Joliet, 111., and Jollet Enterprise Co. (barb wire manufacturers); $1,000,000. Dec. 6-Wholesale mercantile firm of Wilozinski & Nelson at Greenville, Miss.; $400,000. Dec. .11-Black Hills national bank at Rapid City, S. D. Dec. 13-Lipman & Co., jute merchants at Dundee, Scotland, failed for $1,250,000. Dec. 15-National bank of Newton, Kan. Dec. 18-Wholesale grocery in Brooklyn, N. Y.; $400,000.

18. March 7, 1893 Southwest-Sentinel Silver City, NM
Article from Southwest-Sentinel, March 7, 1893

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Foster, the newly appointed receiver of the First National Bank here and the First National Bank at Deming, is expected to arrived from Kansas in a few days. It is to be hoped that the affairs. of the banks will be wound up without delay.

19. September 9, 1893 Deming Headlight Deming, NM
Article from Deming Headlight, September 9, 1893

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For Sale. All of the real estate and personal property of the First National Banks of Silver City and Deming. Apply to E. L. FOSTER, Receiver, Deming, N. M. Fine chinsware and glass ware at J. A. Mahoney's.

20. September 16, 1893 Deming Headlight Deming, NM
Article from Deming Headlight, September 16, 1893

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For Sale. All of the real estate and personal property of the First National Banks of Silver City and Deming. Apply to E. L. FOSTER, Receiver. Deming, N. M. Fine chinaware and glass ware at J. A. Mahoney's.

21. November 12, 1895 Southwest-Sentinel Silver City, NM
Article from Southwest-Sentinel, November 12, 1895

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PEOPLE are wondering and asking how much money has been collected by the defunct First National Banks of Silver City and Deming since the last dividend. No statement has been published by the receiver for over two years.

22. August 21, 1896 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, August 21, 1896

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In the case of E. L. Foster, receiver of the First national bank at Deming and Silver City, against the Vermejo company, Moses E. Dane and others, W. E. Gortner has been appointed examiner to take testimony.