Government-ordered suspension (Comptroller) on 1892-02-04; government-record receivership date 1892-02-29 slightly before press reports of appointment.
Events (4)
1.September 4, 1886Chartered
Source
historical_nic
+5.4 years
2.February 4, 1892Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller of the Currency (government action).
Newspaper Excerpt
Under orders from Comptroller of Currency Lacy the doors of the First National bank of Silver City ... have been closed.
Source
newspapers
+25 days
3.February 29, 1892Receivership
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, both in the territory of New Mexico.
Source
newspapers
same day
4.February 29, 1892Receivership
Source
historical_nic
Newspaper Articles (20)
1.February 4, 1892San Antonio Daily LightSan Antonio, TX
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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, 1892Evening Capital JournalSalem, OR
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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, 1892The Olympia TribuneOlympia, WA
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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, 1892Richmond DispatchRichmond, VA
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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, 1892The Waco Evening NewsWaco, TX
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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, 1892Los Angeles HeraldLos Angeles, CA
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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, 1892The Morning CallSan Francisco, CA
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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, 1892The Helena IndependentHelena, MT
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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, 1892The Salt Lake HeraldSalt Lake City, UT
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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, 1892Lewiston TellerLewiston, ID
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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, 1892Evening StarWashington, DC
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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, 1892Fort Worth GazetteFort Worth, TX
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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.
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.
14.March 6, 1892Tombstone EpitaphTombstone, AZ
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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.
15.September 27, 1892Southwest-SentinelSilver City, NM
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Personal.
J. R. Johnson was down to Hadley last week.
Hyman Abraham and family have gone to San Francisco.
Idus L. Fielder has returned from a trip to Gold Hiil.
John H. Lester was in from the Mimbres last Saturday.
J. H. Mathews made a flying trip to Deming last Friday.
Judge Bantz was up to Pinos Altos yesterday on business.
E. B. Chase returned from a trip to Las Cruces last week.
Mrs. J. A. Harlan, of Rincon, was visiting in the city last week.
A. B. Laird is in the city doing some very earnest campaign work.
Prof. G. W. Miles is out in the country looking after his political interests.
T. N. Childers, republican candidate for assessor, was at Deming last week.
Horace Gerber was in the city last week. He is engaged in mining in Mexico.
Miss Emma Williams, who has been visiting Mrs. A. J. Loomis, has returned to Fort Smith, Ark.
Rev. Pierce expects to leave for the east next week. He does not intend to return to Silver City.
Mrs. Harry W. Lucas, who has been in the east for several months, returned home last Friday
Isaac M. Smith, receiver of the First National Bank of this city was here from Deming last Friday.
W. F. Aiken was out last week feeling the public pulse in reference to the nomination for probate clerk.
M. W. Porterfield, repuplican candidate for probate judges was out on an electioneering trip last week.
J. W. Gillett was down in the southern part of the county last week looking over the political situation.
Judge James Mullen has gone to Colorado on a visit to his children. He has not seen them for several years.
J. M. Fritter has returned from Raton where he attended the session of the grand lodge of Knights of Pythias.
Miss Callie Gerber, who has been visiting her brother in law, J. E. Sheridan returned to her home in Ohio last Tuesday.
S. E. Gill, of Pittsburgh, was in the city last week. He is one of the purchasers of the Jim Crow mine in the Steeple Rock district.
Miss Kate Thompson, who is spoken of a candidate for superintendent of schools before the coming democratic convention, visited Deming last week.
Perry B. Lady will visit several of the precincts in the county this week. He will be elected to the legislature from this district by a handsome majority and there will be a Lady in the legislature next winter for the first time.
16.October 4, 1892Southwest-SentinelSilver City, NM
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Personal.
B. T. Link is in the city from the Mimbres.
C. F. W. Schmidle is in the city from the Burros.
H. H. Betts has purchased the residence occupied by C. P. Crawford.
E. L. Hall, candidate for the council from this district, was in the city yesterday.
Road Supervisor Durkee is doing some substantial work on the streets of this city.
Fred. M. Smith, of the firm of Smith & Fleishman, of Deming, arrived Saturday afternoon.
Jno. J. Quinn, one of Deming's leading merchants, attended the democratic primary here Saturday evening.
J. J. Kelly went to Albuquerque last Sunday morning to attend the session of the Masonic grand lodge there.
Mrs. C. A. Thompson is visiting at Nashville, Tenn. She will be absent about two months.
Isaac M. Smith, receiver of the First National Bank of this place was here looking after bank matters last week.
Mrs. Achison, who is well known in society circles here, was married to Mr. Ingraham, of Chicago, on the 21st. ult.
Prof. G. W. Miles returned last Thursday evening from a trip through the precincts in the eastern part of the county.
R. H. Speed, of the Round House ranch, has purchased an interest in McMillen's meat market and will remove to this place.
Telegraph Operator Gray of the Western Union office here went to Albuquerque last week. He expects to remove there soon with his family.
Alvin F. Sortwell, of Boston, one of the members of the Maud S. Mining company arrived here last week and went out to Silver Creek to the mine.
J. H. Mudge, agent of the Atchison, Topeka and Santa Fe company here has returned from Chicago where he was married recectly and has resumed his duties. Mr. and Mrs. Mudge are living in the Langer residence on Bullard street.
17.November 22, 1892Southwest-SentinelSilver City, NM
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Silver City. 8:45 a. m
Deming. 11:15
Nutt 11:25
Rincon 12:20 p. m.
Las Cruces. 1:45
El Paso. 3:20
Kansas City 3:45
Chicago... 6:25 p.m.
7:00 a. m.
8:03"
OTTO ARNOLD, Agent.
There was a dance at Morrill Hall last Friday evening.
Several aspirants are already in the field for the Silver City post office.
After the first of January the treasurer's office will be in Silver City.
The board of County commissioners will meet today.
Judge Ginn is acting district attorney in the absence of District Attorney Ancheta.
The people of Deming are still waiting for work to be actively commenced on the new railroad into Mexico.
Hunters are beginning to bring in deer from the mountains. They seem to be plenty this year.
There has been no Indian news for the past few days and theKid and his band are supposed to be in hiding in the mountains.
Taxes have been coming in very slowly this year and there will be a large delinquent list when Sheriff Lockhart goos out of office.
To Let-a number of U. S. post offices, after March 4th, 1893. For terms and conditions apply to G. Cleveland, Washington, D. C.
G. W. Miles, superintendent of schools of this County has just finished his annual report to the Territorial superintendent.
A city pound has been built near the residence of Martin Maher. Stray stock will be fed and watered there at the expense of the owners.
Tickets will be sold at reduced rates to El Paso for the silver convention which opens there December 5.
Entertainment at Pinos Altos on Thursday night next. Everybody invited. Admission free.
The coal famine in southern New Mexico is at an end. Work has been resumed in the mines at Cerrillos and all orders are being promptly filled.
Next Sunday evening it is expected that there will be a brilliant display of meteors. The sight will be worth looking at.
Charles M. Shannon, formerly a resident of this city, was elected to the Arizona legislature, from Graham county, at the late election.
Three out of every four men you meet on the streets, wearing new hats, are democrats. They are wearing them to please their republican friends.
John A. Moses will soon remove to the Gila, where he will take charge of the business of the Lyons & Campbell Cattle Company. The company's office here will be discontinued.
There has been some complaint about the apportionment of school money. School funds should be apportioned so that there may be no difficulty in keeping the schools in session.
This is the quietest term of court which has been held in Grant County in recent years. There is no grand jury and consequently no witnesses were summoned to testify in cases awaiting the action of the grand jury.
The citizens of Oak Grove voted for a justice of the peace at the recent election. They were not aware of the fact that the law provides for the elction of justices of the peace in January. The board of County commissioners took no notice of the vote for justice of the peace in Oak Grove precinct.
Considerable civil business has been disposed of at the present term of court and it is expected that the civil docket will be pretty nearly cleared up before court adjourns.
The interest on the bonds of this County, which fell due last July, is still unpaid. It is not a very high compliment to Grant County to have the interest on its bonded indebtedness defaulted for nearly five months.
The receiver of the First National Bank of this city has a number of cases in court which were brought on overdue notes held by the bank.
Holders of certificates of claims against the First National Bank of this city can get checks for the first dividend of 20 per cent. by presenting the certificates at the bank and signing receipts for the checks.
A new time table will go into effect on the A., T. & S. F. next Sunday. The time between this place and Chicago will be shortened considerably.
Quite a number of residents of this city have signified their intention of attending the Silver Convention at El Paso which onens on the 5th of December
18.November 22, 1892Southwest-SentinelSilver City, NM
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The receiver of the First National Bank of this city has a number of cases in court which were brought on overdue notes held by the bank.
19.December 13, 1892Southwest-SentinelSilver City, NM
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The receiver of the First National Bank of this city has given up the room which has been occupied by him and all persons who have papers in the vault should call and get them at once.
20.February 10, 1893Western LiberalLordsburg, NM
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Isaac M. Smith, the receiver of the defunct banks of Silver City and Deming, died at his home in Vermont on the 26th. Mr. Smith went home to spend the holidays. He caught a severe cold, which turned into pneumonia, causing his death. A meeting of the depositors of the First national bank of Silver City was held this week at which a resolution was passed asking the comptroller of the currency to appoint a man in Mr. Smith's place who was not a stockholder in either bank. It is thought that a non stockholder would be a little more anxious to pay dividends and not quite so anxious to save the stockholders' pockets.
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.
