Article Text
SMALL IDAHO BANK TEMPORARILY SUSPENDS Sand Point, Idaho, Nov. 16. The Traders' State bank, capitalized at $15,000. suspended payment owing to inability to realize quickly on loans. Its deposits amount to $120.000.
3495. Traders State Bank (Sandpoint, ID)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Start Date
- November 16, 1907
- Location
- Sandpoint, Idaho (48.277, -116.553)
Metadata
- Model
- gpt-5-mini
- Short Digest
bb4e2104879cfa4b
Response Measures
None
Description
Multiple contemporaneous articles report the Traders' State Bank of Sandpoint suspended payment on 1907-11-16 due to inability to realize on secured loans (about $60,000). There is no mention of a depositor run. The bank resumed business in early December 1907 after local businessmen and stockholders provided support.
Events (2)
1.
November 16, 1907
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Inability to realize quickly on about $60,000 of secured loans held by local businesses; liquidity shortage rather than reported runs.
- Newspaper Excerpt
- The Traders' State Bank ... suspended payment today OWing to its inability to realize quickly on its loans.
- Source
- newspapers
2.
December 5, 1907
Reopening
- Newspaper Excerpt
- Sandpoint Traders' State Bank resumed business, after having been suspended since Nov. 16th on account of the financial stringency. A committee of business men had secured the signatures of 90 per cent of the stockholders ... On the first two days ... it received in deposits over $20,000 and but about $400 was drawn out.
- Source
- newspapers
Newspaper Articles (11)
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STATEMENTS ENCOURAGING Week's Decrease in Cash Reserve of Banks Small RECEIVERS ARE APPOINTED For Six New York Institutions in Response to Application. New York, Nov. 16-The statements of the clearing house banks for the week ended today showed that they hold $53,666,950 less than the required 25 per cent of their reserve. This is a decrease of $1,742,325 in the proportionate cash reserve as compared with last week. Receivers For Six New York Banks. Kingston, N. Y., Nov. 16.-Temporary receivers were appointed today for six New York City bank and trust companies which recently suspended payment. The application for the receivers was made by William F. Mackey, who acted for Attorney General Jackson. Small Idaho Bank Suspends. Sand Point, Idaho, Nov. 16.-The Traders' State Bank, capitalized at $15,000. suspended payment today OWing to its inability to realize quickly on its loans. The deposits amount to $120,000.
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BANK IN IDAHO SUSPENDS. SANDPOINT, Idaho, Nov. 16.-The Traders' State Bank, with a capital of $15,000, suspended temporarily today. Its deposits are estimated at $125,000.
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STATE and COUNTY NEWS. Items of Interest Gathered From Exchanges. OF INTEREST TO IDAHOANS. Events and Industrial Progress Of the Week. The new Humbird sawmill at Sandpoint, replacing the one burned last March, was put in operation Monday. Judge Deltrich of the federal court at Moscow. dismissed the jury last Sunday after an attendance of 40 days. Chas. Stibbs, one time champion foot racer of Canada, died at Sandpoint last Friday evening, of heart failure. Virgiola Skeen, a 12-vear-old girl c of Troy, who had a limb broken on the N. P. wasawarded $1600 damages 10 the federal court at Moscow. The attendance at the University of Idaho shows a gain of 15 per cent over that of last year. It is DOW near the 400 mark. V The body of a man was found in the St. Joe river Friday afternoon, It about three miles below the fork. a later Identified as that of Alfred al Ryberg, an employe of the C. M. & St. P. railroad There were no marks of violence on the body. d At the family residence at Hayden U lake Friday afternoon, the 18-monthold daughter of George W. Riggs pulled a large pan of hot grease from p the stove and was horribly burned, O a but the physicians say there is I chance for her life. er W. H. McGarrab, who recently m pleaded guilty to robbing the Northto ern Pacific ticket office at Kamiah, st Idaho, after telling a thrilling story of a hold-up, has been sentenced to serve two years in the state prison at Boise. a p The Idaho University football team pc won another game last Saturday by tr defeating Whitman by a score of 11 F to o. John Middleton, the Idaho a coach, is acquiring considerable celeG brity as a football genius. si Workmen employed on the C. M. n St. P. grade at St. Maries Monday M mobbed Contractor Robert Marrs bep cause be paid off the men with checks Instead of cash. Mr. Marrs finally W of quieted the men by promising to secure the cash for them. O p Eastero Washington and northern in S Idaho lumbermen who intervened the suit of the Coast lumbermen S against the railroads to prevent the t putting into effect of the new lumber h freight schedule have secured a temporary injunction restraining the B roads from putting into effect the 0 increased rate. Gooding, a new town in southern H Idaho is to be "dry". Saloon people who had bought a lot and had goods on hand to open have been denied a license by the Lincoln county com missioners. Voters and citizens had entered a protest against the salone and it was heeded. The Traders' State bank at Sandpoint suspended making last payments Friday and taking deposits morning. The reason given is that owing to the financial stringency the bank has been unable to realize on about $60,000 of secured loans held by Sandpoint business concerns. It IS the believed suspension is only said temporary as the securities are to be gilt-edged. A Pocatello dispatch says: "An retail was formed here Idaho association state liquor last dealers' night to combat the moves of the temperance and prohibition workers in the state. Delegates were present from seven counties. Pocatello is the seat of war for prohibition, the city council having passed to its first reading an ordinance closing all the saloons in town. The supreme court last Friday bandei down an opinion/affirmin Judge Morgan, formerly on the bench
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IDAHO NEWS. Two 28-foot launches have arrived in Sandpoint. They are designed for the forestry service, one for Pend d'Oreille and the other for Priest lake, to patrol the lakes for fires and for trespassers of the forest reserves. The Traders' State bank of Sandpoint suspended business, it is said, because of its inability to realize on about $60,000 of secured loans. The body of a man was found in the St. Joe river recently, about three miles below the fork. It was later identified as that of Alfred Ryberg, an employe of the C., M. & St. P. railroad. There were no marks of violence on the body. Garnett L. Griggs, who was convicted in the district court at Lewiston of horse stealing, has been sent to the
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IDAHO NEWS. Two 28-foot launches have arrived in Sandpoint. They are designed for the forestry service, one for Pend d'Oreille and the other for Priest lake, to patrol the lakes for fires and for trespassers of the forest reserves. The Traders' State bank of Sandpoint suspended business, it is said, because of its inability to realize on about $60,000 of secured loans. The body of a man was found in the St. Joe river recently, about three miles below the fork. It was later identified as that of Alfred Ryberg, an employe of the C., M. & St. P. railroad. There were no marks of violence on the body. Garnett L. Griggs, who was convicted in the district court at Lewiston of horse stealing, has been sent to the
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gerson, who lives near Emmett, was thrown from a horse recently and his neck was broken. State Auditor Bragaur has been served with notice of issuance by the supreme court of a writ of review directed to him as secretary of the state board of equalization. The writ has been sent out by the county attorney of Washington county, who challenges the validity of the action of the board in adding 78,840 sheep to the Washington county return. Such additions were made in a number of counties, and this case becomes of great interest. Two 28-foot launches have arrived in Sandpoint. They are designed for the forestry service, one for Pend d'Oreille and the other for Priest lake, to patrol the lakes for fires and for trespassers of the forest reserves. The Traders' State bank of Sandpoint suspended business, it is said, because of its inability to realize on about $60,000 of secured loans. According to Supervisor Fromme of the Priest River national forest reserve the bid of the Fidelity Lumber company of Spokane for 28,000,000 feet of timber on the reserve has been accepted. The sum involved is approximately $100,000, of which $25,000 is on deposit. The timber is all on the west branch of Priest river, and is white pine, red fir, tamarack and cedar. Benjamin Franklin McClain, the jockey who was seriously injured at Lewiston during the fair, has departed for Oakland, Cal., after spending six weeks in the hospital with a broken leg. While hunting quail on Hog island, a low, marshy tract of land lying in the Clearwater river opposite East Lewiston, Thomas Tabor and Albert C. Metzmire recently shot a large lynx, whieh they will have mounted. Charles Stibbs, a well known character around Sandpoint, died recently. At one time he was noted as the champion footracer of Canada. He was about 50 years old. State Treasurer Hastings recently addressed a letter of inquiry to 40 state depository banks asking what, if any, effect, the money stringency would have upon the payment of taxes in January. They are practically unanimous in declaring the tax collections will not be affected. The Humbird Lumber company has put its new mill at Sandpoint in operation, which will furnish employment to 500 men. The mill replaces one which burned last March and has the same capacity as the old one. Penitent and torn by conflicting emotions, Chaster Loveland, 20 years of age, walked into the police station at Tacoma and gave himself into the hands of the law for forging checks for $200 in St. Anthony, Idaho.
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gerson, who lives near Emmett, was thrown from a horse recently and his neck was broken. State Auditor Bragaur has been served with notice of issuance by the supreme court of a writ of review directed to him as secretary of the state board of equalization. The writ has been sent out by the county attorney of Washington county, who challenges the validity of the action of the board in adding 78,840 sheep to the Washington county return. Such additions were made in a number of counties. and this case becomes of great in terest. Two 28-foot launches have arrived in Sandpoint. They are designed for the forestry service, one for Pend d'Oreille and the other for Priest lake, to patrol the lakes for fires and for trespassers of the forest reserves. The Traders' State bank of Sandpoint suspended business, it is said, because of its inability to realize on about $60,000 of secured loans. According to Supervisor Fromme of the Priest River national forest reserve the bid of the Fidelity Lumber company of Spokane for 28,000,000 feet of timber on the reserve has been accepted The sum involved is approximately $100,000, of which $25,000 is on deposit. The timber is all on the west branch of Priest river, and is white pine, red fir, tamarack and cedar. Benjamin Franklin McClain the jockey who was seriously injured at Lewiston during the fair, has departed for Oakland. Cal., after spending six weeks in the hospital with a broken leg. While hunting quall on Hog island. a low, marshy tract of land lying in the Clearwater river opposite East Lewis ton, Thomas Taber and Albert C. Metz mire recently shot a large lynx. which they will have mounted Charles Stibbs, a well known character around Sandpoint, died recently At one time be was noted as the chara pion footracer of Canada He was about 50 years old. State Treasurer Hastings recently addressed a letter of inquiry to 40 state depository banks asking what If any, effect, the money stringency would have upon the payment of taxes in January They are practically unanimous in declaring the tax collections will not be affected The Humbird Lumber company has = put its new mill at Sandpoint in operation. which will furnish employment h to see men. The mill replaces one which burned last March and has the same capacity as the old one it Penitent and torn by conflicting B emotions, Chaster Loveland 20 years . of age, walked into the police station at Tacoma and gave himself into the hands of the law for forging checks for $200 in St. Anthony, Idaho.
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IDAHO POCATELLO, Idaho, Nov. 22.-A wreck occurred at American Falls. The rear end of the Twin Falls local was run into by a through freight. A passenger named Hall of Acequia, a Japanese and a passenger who had just got on the local at American Falls were seriously injured. The accident occurred at the west end of the switch at American Falls. A wrecking train has been sent out from Pocatello, and passenger train No. 1 is being held here until the track can be cleared. SAND POINT-The Traders State bank, capitalized at $15,000, suspended payment temporarily. Inability to realize on $60.000 of secured loans is given as the cause of suspension. The bank deposits amount to $125,000, all of which the officials have pledged themselves to make good.
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The Traders' State bank of Sandpoint suspended business, it is said, because of its inability to realize on about $60,000 of secured loans. The body of a man was found in the St. Joe river recently, about three miles below the fork. It was later identified as that of Alfred Ryberg, an employe of the C., M. & St. P. railroad. There were no marks of violence on the body. Garnett L. Griggs, who was convicted in the district court at Lewiston of horse stealing, has been sent to the Boise penitentiary on a two years' trip. W. H. McGarrah, who recently pleaded guilty of robbing the Northern Pacific ticket office at Kamiah, after telling a thrilling story of a hold-up, has been sentenced to serve two years in the state prison at Boise. A 10-year-old son of Ephraim Yergerson, who lives near Emmett, was thrown from a horse recently and his neck was broken. State Auditor Bragaur has been served with notice of issuance by the supreme court of a writ of review directed to him as secretary of the state e board of equalization. The writ has e been sent out by the county attorney of Washington county, who challenges the validity of the action of the board a in adding 78,840 sheep to the Washington county return. Such additions were made in a number of counties, and this case becomes of great interest. d According to Supervisor Fromme of S the Priest River national forest rer serve the bid of the Fidelity Lumber e company of Spokane for 28,000,000 d feet of timber on the reserve has been accepted. The sum involved is approxe imately $100,000, of which $25,000 is di on deposit. The timber is all on the 11 west branch of Priest river, and is white pine, red fir, tamarack and cedar. & st Benjamin Franklin McClain, the jockey who was seriously injured at Dr. Lewiston during the fair, has departed for Oakland, Cal., after spending six y weeks in the hospital with a broken Dleg. a While hunting quail on Hog island, rs a low, marshy tract of land lying in the e Clearwater river opposite East Lewiston, Thomas Tabor and Albert C. Metzrmire recently shot a large lynx, which they will have mounted. pCharles Stibbs, a well known charia acter around Sandpoint, died recently ed At one time he was "noted as the champion footracer of Canada. He was habout 50 years old. rs State Treasurer Hastings recently n, addressed a letter of inquiry to 40 state in depository banks asking what, if any es effect, the money stringency would in have upon the payment of taxes in January. They are practically unani n, mous in declaring the tax collections ar will not be affected. ed The Humbird Lumber company has oll put its new mill at Sandpoint in oper geation, which will furnish employmen to 500 men. The mill replaces on is which burned last March and has the asame capacity as the old one. dPenitent and torn by conflicting 40 emotions, Chaster Loveland, 20 year of age, walked into the police station W at Tacoma and gave himself into th hands of the law for forging check se, for $200 in St. Anthony, Idaho. ny
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Sandpoint Bank Resumed Business. Last week the Sandpoint Traders' State Bank resumed business, after having been suspended since Nov. 16th on account of the financial stringency. A committee of business men had secured the signatures of 90 per cent of the stockholders to an agreement that they would not ask for more than 10 per cent per month on their deposits. On the first two days that the bank was reopened for business it received in deposits over $20,000 and but about $400 was drawn out. The Sandpoint people have co-operated with the bank officials in getting the institution back on its feet, and are entitled to credit for the manner in which they have assisted the institution and saved the credit of the town.