3264. National Bank (Sioux City, IA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
4431
Charter Number
4431
Start Date
April 26, 1893
Location
Sioux City, Iowa (42.500, -96.400)

Metadata

Model
gpt-5-mini
Short Digest
015689844acd7950

Response Measures

Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health

Description

Articles describe a run on the Sioux City National Bank on 1893-04-26; later litigation, a petition for a receiver (Feb 1894) and consolidation with the Security National Bank (Feb 1894) indicate the bank suspended/was closed and wound up. Subsequent articles (1897) refer to the failed Sioux City National Bank in receivership and suits by the receiver to compel stockholder assessments. Cause of the 1893 run appears tied to the failure/embarrassment of the Union Loan and Trust company and related local bank disturbances; final outcome was closure/receivership. Dates and OCR minor fixes: Sloux corrected to Sioux.

Events (5)

1. October 7, 1890 Chartered
Source
historical_nic
2. April 26, 1893 Run
Cause
Local Banks
Cause Details
Run occurred in context of the Union Loan and Trust failure and related local banking disturbances; depositors expected outside funds to tide bank over crisis.
Measures
Clearing House announced it would stand by the bank; president William D. Joy issued circular personally guaranteeing depositors and denying interest in the Union Loan and Trust failure.
Newspaper Excerpt
RUN ON THE BANK. The Sioux City National Has an Alarming Time of It. Sioux CITY, Iowa, April 26.-This morning there was a run on the Sioux City National bank.
Source
newspapers
3. December 29, 1893 Voluntary Liquidation
Source
historical_nic
4. February 14, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Litigation and allegations of conspiracy to wreck the National Bank; plaintiffs sought a receiver and the two banks were consolidated, effectively closing the National Bank.
Newspaper Excerpt
The National of Sioux City and the Security National will now be consolidated under the name of the latter, with $750,000 capital.
Source
newspapers
5. April 6, 1897 Receivership
Newspaper Excerpt
Holders of 431 shares of stock of the failed Sioux City National Bank ... received notice from W. H. Farnsworth, the attorney for the receiver, that suit would be instituted ... to compel them to pay an assessment of $75 per share. The affairs of the bank are now going through the winding up process. (notice received April 6, reported April 19, 1897).  (Note: article dates Apr 19–23, 1897.)
Source
newspapers

Newspaper Articles (14)

Article from Grand Rapids Herald, April 27, 1893

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Article Text

RUN ON THE BANK. The Sloux City National Has an Alarming Time of It. Sioux CITY, Iowa, April 26.-This morning there was a run on the Sioux City National bank. but it has not assumed serious proportions. The Clearing House association this morning announced to stand by the bank. William D. Joy, president of the Sioux City Na. tional. issued a circular in which he personally guaranteed all depositors of his bank. and gives his personal werd that it has no interest in the Union Loan and Trust failure. No funds have been received today from J. B. Hill, president of the Great Northern system, who is east and with whom an arrange. ment was made last Saturday. It was from him that some of the principal local partien interested expected to get funds to tide over the crisis in the Union Loan and Trust company.


Article from The Sun, November 19, 1893

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Article Text

Minor Business Troubles, JOLIET, Ill. Nov. 18.-The plant of the Windsor Wire and Spring Company was seized this morning by the Sheriff to satisfy a claim of $15,103. A large number of workmen are thrown out of employment. JACKSONVILLE, III., Nov. 18.-The firm of T. J. Bronson. wholesale dealers in saddles. hardware. and supplies. assigned yesterday. Liabilities. $22,000: assets somewhat larger. SIOUX CITY. Nov. 18.-The National Bank of Sioux City yesterday took possession of the stock of C. G. Culver, leading dry goods firm here. under a chattel mortgage for $35,000. No assignment has been made. but the place of business has been closed. The failure was precipitated by the consolidation of two banks. involving the closing up of the business of the National Bank of Sioux City.


Article from New-York Tribune, February 4, 1894

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Article Text

CHARGES AGAINST BANK OFFICIALS. San Jose, Cal., Feb. 3.-Ex-Vice-President Leonard, of the defunct Santa Clara Bank, was rearrested yesterday, the Grand Jury having returned an indictment against him for embezzlement in sums ranging from $2,000 to $5,000. Atlantic, Iowa, Feb. 3.-J. C. Yetzer, president and half-owner of the defunct Cass County Bank, was arrested yesterday for fraudulent banking. He waived examination and was placed under $5,000 bonds, to await the action of the Grand Jury. Chicago, Feb. 3.-A dispatch to "The Tribune" from Dubuque, says: "Mr. Lathrop, a lawyer of Sloux City, yesterday filed with the clerk of the United States Circuit Court a bill of equity in the case of several non-resident stockholders of the National Bank of Stoux City, against the National Bank and the Security National Bank, asking for a receiver for the National Bank. The bill alleges that President Manley, of the Security National Bank, entered into a conspiracy with the officers of the National Bank to destroy the latter and consolidate its effects with those of the Security National."


Article from The Madison Daily Leader, February 6, 1894

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Article Text

Intended Bank Wrecking Charged. DUBUQUE, Ia., Feb. 5.-A petition has been filed in the United States court by J. S. Lathrop asking that a receiver be appointed for the National Bank of Sioux City. The bill alleges conspiracy on the part of the officers of the Security National with those of the National to wreck the latter.


Article from The Herald-Advance, February 9, 1894

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Article Text

Conspiracy Alleges. Dubuque, Feb. 5.-A petition was filed in the United States court by J. S. LA throp, asking a receiver for the Naticral Bank of Sioux City. The bill alleges conspiracy to wreck it.


Article from New-York Tribune, February 15, 1894

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Article Text

BUSINESS EMBARRASSMENTS. Louisville, Ky., Feb. 14.-The Old Kentucky Paper Company was placed In the hands of a receiver this morning on the supplementary petition of Granger & Co., who hold a mechanic's lien on the property for about $10,000. Suit to establish this Men was brought last November. Yesterday the Louisville and Nashville Railroad sued the paper company on a claim of $8,500. The paper company is indebted to the amount of about $100,000, and the plant is valued at $300,000. Chicago, Feb. 14.-A dispatch to "The Herald" from Stoux City, Iowa, says: "The case in which three stockholders of the National Bank of Sioux City applied for an injunction to restrain its officers from liquidating the business of the bank and consolidating it with the Security National Bank, and for a receiver to wind up Its affairs, was called up in the United States Court yesterday. The plaintiffs did not appear, but instead filed a motion for dismissal. The National of Sioux City and the Security National will now be consolidated under the name of the latter, with $750,000 capital."


Article from The Copper Country Evening News, December 4, 1896

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THE NEWS IN BRIEF. The Third Avenue M. E. church at Third avenue and High street, Columbus, O., was destroyed by fire. Loss, $50,000; insurance, $30,000. Mr. and Mrs. H. W. Van Arnam, each 86 years of 'age, of Fond du Lac, Wis., celebrated the sixty-sixth anniversary of their wedding Wednesday. They are the oldest married couple in the state. At Elkhart, Ind., William J. Morrow, proprietor of one of the largest wall paper and paint establishments in northern Indiana, made an assignment to Christopher Gillette. Senator Allison's departure from Dubuque, Ia., for Washington has been postponed. He is confined to his home with a cold and abscess of the ear. Charles Bayless, manager of the street car system at Mount Clemens, Mich., killed himself by shooting at the Avery House. Unhappy relations with his wife are assigned. He came from Muncie, nd., and has relatives live at Bessemer, Mich. George J. Eacock has been appointed receiver for the Spring & Emerson Stationery and Printing company of Lafayette, Ind. Liabilities, $30,000; assets less. To secure a claim of $50,000 held by the defunct Sioux City National bank, the Sioux City Engine and Iron works has given a bill of sale to Reveiver Brown of the former concern. Samuel Corbett, missing from Deeatur, Ills., since Nov. 4, was found dead near the Oakridge schoolhouse in Long Creek township. He was an epileptic, aged 60. It is supposed he died in a fit. The Clinton Furniture company, retail furniture dealers at Clinton, Ia., were closed on chattel mortgages and claims by suits aggregating $4,050.25. Horace Harding of Stilesville, Ind., a barber, committed suicide by shooting. Harding's extreme deafness and infirmities led to the deed. He left a note to that effect to his family. It is stated that sixty-seven daily newspapers have been started and have died in New York city alone within the last sixty years, involving the loss of over $25,000,000. The first woman to practice medicine in Georgia has received her certificate. Robbed by Masked Men. Gutherie, O. T., Dec. 4.-Four masked robbers, supposed to be headed by "Dynamite" Dick, held up Storekeeper Ernest Powell at Ingram Wednesday night, and made him deliver $300. After securing the money, and while leaving the store, the outlaws were fired on by Powell. The fire was returned, and a farmer named Ellis, who was in the store, was shot. The robbers are supposed to be the same who held up the postmaster at Floyd Tuesday night and secured $1,246.


Article from The Salt Lake Herald, March 20, 1897

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"The reopening of the national bank in Sioux City, Ia., which closed last November is a significant business 'pointer.' Resumption in all sorts of financial, commercial and industrial institutions will undoubtedly exceed suspensions f.ve or ten to one hereafter," savs the St. Louis Globe-Democrat. What of the score or more of banks that have closed since last November? Are they not also significant business "pointers?"


Article from Omaha Daily Bee, March 21, 1897

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Business Revival. Globe-Democrat. The reopening of the national bank in Sioux City, Ia., which closed last November is a significant business "pointer." Resumption in all sorts of financial, commercial and industrial institutions will undoubtedly exceed suspensions five or ten to one hereafter.


Article from The Providence News, April 19, 1897

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WILL BE SUED. Receiver to Endeavor to Recover on Bank Stock. Nashua People do Not Want to Pay on Shares of Sioux City Bank. Nashua, N. H., April 19.-The holders of 431 shares of stock of the failed Sioux City National Bank of Sioux City, Ia., today received notice from W. H. Farnsworth, the attorney for the receiver that suit would be instituted in the United States court to compel them to show cause why they should not pay an assessment of $75 per share, which has been levied for the purpose of paying the indebtedness of the bank. the affairs of which are now going through the winding up process. The local stockholders have engaged counsel and will fight the assessment. In all 431 shares which were valued at $43,100 are held here. The assessment notices were received April 6, but little attention was paid to them, and the shareholders, one and all, resolved not to pay the money requested. At the time the stockholders sent F. W. Estabrook to Washington where he laid the case before the comptroller of the currency. The result of the conference is kept secret and several interesting developments in connection with the bank's affair are expected at the trial. The stockholders will be sued for the full amount of the assessment and interest on the same at the rate of six per cent, dating from April 6.


Article from The Salt Lake Herald, April 20, 1897

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Bank Stockholders in a Bad Boat. Nashua, N. H., April 19.-Holders of 431 shares of stock of the failed Sioux City National bank of Sioux Citv, Ia., today received notice from W. H. Farnsworth, the attorney for the receiver, that suit would be instituted against them in the United States courts to compel them to show cause why they should not pay an assessment of $75 per share, which has been levied for the purpose of paying the indebtedness of the bank, the affairs of which are now going through the winding up process. The local stockholders will fight the assessment.


Article from Iowa State Bystander, April 23, 1897

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Sioux City National Bank Shareholders. Nashua, N. H.. April 21.-Holders of 431 shares of stock of the failed Sioux City National Bank, at Sioux City, Iowa. have received notice from W. H. Farnsworth, the attorney for the receiver, that suit would be instituted against them in the United States courts to compel them to show cause why they should not pay an assessment of $75 per share which has been levied for the purpose of paying the indebtedness of the bank, the affairs of which are now going through the winding up process. The local stockholders will fight the assessment.


Article from Des Moines Tribune, December 17, 1930

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3 NAMED ATTORNEYS FOR BANK RECEIVERS Special The Tribune D N Jepson has been attorney for the of the First Na tional bank of Sioux City the same time, Robert E. Pike has been attorney for the receiver of the Sioux City Na. tional bank. Both are widely known Sioux City attorneys D. Meloy has been named at torney for the receiver for First National bank at Cherokee Ia.


Article from The Des Moines Register, June 19, 1931

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$92,000 IN DIVIDENDS UNCLAIMED FIRST WEEK National bank here. Receiver H. M. Kirkman still had $92.000 uncalled for Friday Nearly 000 has been paid. The dividend SIOUX the first paid by this bank and week represents 20 per cent More after he started dividends than depositors hold claims to depositors of the defunct on the still unpaid.