Article Text
Bank Suspension. HURON, S. D., Dec- 16, 1890.-The Home National Bank, of the city, suspended this morning because of withdrawal of deposits.
Huron National Bank (Huron, SD)
Episode Information
- Episode UID
326701092- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
-
32670national - Charter Number
- 3267
- Start Date
- December 16, 1890
- Location
- Huron, South Dakota (44.363, -98.214)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
ecb6b26510ff81b0
Response Measures
Capital injected, Full suspension, Books examined
Receivership Details
- Depositor recovery rate
- 52.0%
- Date receivership started
- 1892-01-07
- Date receivership terminated
- 1897-09-23
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 42.0%
- Share of assets assessed as doubtful
- 18.1%
- Share of assets assessed as worthless
- 39.9%
Description
Bank suspended after an anonymous-letter–precipitated run, reopened Feb 1891, then later went into receivership Jan 1892.
Events (6)
1.
November 21, 1884
Chartered
- Source
- historical_nic
2.
December 16, 1890
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Anonymous letters warned depositors the bank would suspend after the election, prompting withdrawals.
- Measures
- Telegrams from Chicago and other points offering aid and advising resumption of business.
- Newspaper Excerpt
- received anonymous letters advising them to withdraw their deposit... This precipitated a run, resulting in suspension.
- Source
- newspapers
3.
December 16, 1890
Suspension
- Cause
- Rumor Or Misinformation
- Cause Details
- Withdrawal of deposits triggered by anonymous letters and resulting run.
- Newspaper Excerpt
- The Huron National bank... closed its door to-day. The suspension was forced upon them by an un- ... withdrawal of deposits.
- Source
- newspapers
4.
February 5, 1891
Reopening
- Newspaper Excerpt
- The Huron National bank... resumed business yesterday; the national bank examiner having delivered the assets to the officers of the bank by order of the controller of the currency.
- Source
- newspapers
5.
January 7, 1892
Receivership
- Source
- historical_nic
6.
January 8, 1892
Receivership
- Newspaper Excerpt
- The controller of the currency has appointed Mr. Lewis L. Lostetter... receiver of the Huron National Bank, Huron, S. D.
- Source
- newspapers
Newspaper Articles (22)
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CLOSED ITS DOORS. The Huron National Bank Forced to Suspend. Special to the Globe. HURON, S. D., Dec. 16.-The Huron National bank, of which L. W. Hazen is president and John A. Fowler, cashier, closed its door to-day. The suspension was forced upon them by an un-
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Political Venom Caused It. HURON, S. D., Dec. 17.-It transpired today that business men and others having deposits with the Huron National bank, which suspended yesterday, received anonymous letters advising them to withdraw their deposit, as the bank would suspend following the election. This precipitated a run, regulting in suspension. Telegrams from Chicago and other points were received to-day offering aid and advising the resumption of business.
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How the Run Was Caused. HURON, S. D., Dev. 17.-It transpires to day that business men and others having deposits with the Huron National bank, which suspended yesterday, received an anonymous letter advising them to withdraw their deposits, as the bank would suspend following election. This precipitated a run, resulting in suspension. Telegrams from Chicago and other points were received to-day, offering aid and advising resumption of business.
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HURON. S.D., Dec. 17.-It transpires today that business men and others having deposits with the Huron National bank. which suspended yesterday, received anonymous letters advising them to withdraw their deposits, as the bank would suspend following the election. This precipitated a run, resulting in the suspension Telegrams from ( hicago and other points were received today offering aid and advising a resumption of busiDO 83.
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TH HURON NATIONAL BANK. Hukon, S.D., Dec. I7.-It transpires today that business men and others having deposits with the Huron National Bank, which suspended yesterday, received anonymous letters advising them to withdraw their deposits, as the bank would suspend the following election. This precipitated a run, resulting in the suspension. Telegrams from Chicago and other points were received today offering aid and advising a resumption of business.
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A South Dakota Bank Falls, HURON 8. D., Dec. 11.-The Home National Bank suspended Tuesday morning The failure was caused by the withdrawal of $60,000 of deposits The bank officials declare that provision has been made to pay every dolfar due creditors and depositors,
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The Huron National Bank Suspension. HURON, S. D., Dec. 17.-It transpires today that business men and others having deposits with the Huron National bank, which suspended yesterday, received anonymous letters advising them to withdraw their deposits, as the bank would suspend following the election. This precipitated a run, resulting in a suspension. Teiegrams from Chicago and other points were received to day offering aid, and advising a resumption of business.
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OFFERING AID. Anonymous Letters Caused the Huron Bank to Suspend. HURON, Dec. 17.-lt transpires to-day that business men and others having deposits with the Huron National bank, which suspended yesterday, received anonymous letters advising them to withdraw their deposits, as the bank would suspend following the election. This precipitated a run, resulting in the suspension. Telegrams from Chicago and other points were received to-day offering aid and advising the resumption of business.
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MANKATO FREE PRESS. FRIDAY. DECEMBER 19, 1890. THE Huron, (S. D.) National Bank has suspended. The failure was caused by the withdrawal in the last 60 days of deposits amounting to over $60,000. It is claimed that all indebtedness will be settled in full.
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The Bank Will Resume. Special to the Globe. HURON, S. D., Dec. 22.-J. M. Bailey Jr., of Sioux Falls, who went to Washington in the interest of the Huron National bank, which suspended last Tuesday, has made arrangements with the comptioller of the currency whereby the bank will be opened for business in a few days. Huron business men and citizens generally are delighted with this result.
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WILL RESUME. The Huron National Bank Will Soon Reopen. Special to the Globe. HURON, S. D., Dec. 29.-Hon. J. M. Bailey Jr., the Sioux Falls banker and millionaire, with H. L. Greene, Esq., were here tc-day consulting with Hazen & Fowler, of the Huron National bank, which suspended ten days since, relative to reopening the bank for business. Mr. Bailey says arrangements are now under way which will be perfected in a few days whereby the bank will resume business. He reports its affairs in splendid condition, and had its correspondents been advised that money was needed plenty would have readily been forwarded to meet all demands. When it reopens there will be no lack of funds.
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Open for Biz. Special to the Globe. HURON, S. D., Feb. 3.-The Huron National bank, of which L. W. Hazen is president. and J. A. Fowler cashier, will resume business to-morrow. The suspension occurred about a month since. The bank now has plenty of money, and will pay all depositors in full, and meet all other demands. The comptroller has directed Bank Examiner Dimond to turn the affairs of the bank over to its officers and open its doors for business. Under the new arrangement the Huron National is placed on a solid financial footing.
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AUTHORIZED TO RESUME BUSINESS.-The - Huron National Bank of Huron, S. D., which suspended December 16, yesterday resumed business, the national bank examiner having delivered the assets to the officers of the bank by order of the controller of the currency. -
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Charles Leonard, bookkeeper of the Washington National Bank of Seaitle, shot himself yesterday at the bank. it is supposed, with suicidal intent. He formerly lived in Auburn, N. Y. Lieut. Frederick Schwatka has been taken to his home at Rock Island, III. He is in a very cheerful mood. The steamer Richmond Hill, which arrived at New York today, brought several valuable horses. among them the celebrated threeyear-old, St. Magnus. The Huron National Bank of Huron, 8. D., which suspended a month ago, resumed business yesterday.
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A Suspended Bank Resumes. HURON, S. D., Feb. 5.-The Huron National bank, which suspended a month ago, resumed business yesterday, greatly to the delight of Huronians generally. Very few depositors called for their money, and m my former patrons made deposits.
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RECEIVER APPOINTED. - The controller of the currency has appointed Mr. Lewis L. Lostetter of Iroquois receiver of the Huron National Bank, Huron, S. D.
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Appointed a Bank Receiver. W ASHINGTON, Jan. 8.-The comptroller of the currency has appointed Mr. Lewis Lostetter, of froquois, receiver of the Huron National bank, Huron, S.D.
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Lostetter Becomes Receiver. Special to the Globe. HURON, S. D., Jan. 8. -National Bank Examiner Diamond will deliver the affairs of the Huron National bank into the handsof L. L. Lostetter, of Iroquois, in a few days, he having been named by the comptroller of the currency as Teceiver. Lostetter's appointment gives satisfaction to all concerned and he will rapidly close the affairs of the bank.
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Closing Its Affairs. Special to the Globe. HURON, S. D., Jan. 15.-John E. Diamond, national bank examiner, in charge of the Huron National bank for the past three weeks, turned the business of that institution over to Lewis L. Lostetter, receiver, this morning, who at once proceeds to close up its affairs.
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THE NORTHWEST. A Summary of Important Events the Week in the Northof western States. Bank Receiver Appointed. WASHINGTON, Jan. 7.-The comptroller of the currency today appointed Lewis L. Lostetter, of Iroquois, receiver of the Huron National Bank, at Huron, S. D.
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Huron's Crippled Bank. Special to the Globe. HURON, S. D.. Jan. 29.-Yesterday L. L. Lostutter, receiver of the Huron National bank, sola the bank building to William N. Coler & Co., of New York, for $9,000. This firm owns a large amount of stock in the First National bank, of this city, and is also the possessor of considerable city property and large tracts of land in this immediate vicinity. Mr. Lostutter is closing up the affairs of the Huron National as rapidly as possible. A number of St. Paul parties interested in the institution have been settled with.