gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7e04f03b0af0ed7c
Response Measures
None
Receivership Details
Depositor recovery rate
93.7%
Date receivership started
1891-02-03
Date receivership terminated
1895-01-22
OCC cause of failure
Fraud
Share of assets assessed as good
61.2%
Share of assets assessed as doubtful
37.0%
Share of assets assessed as worthless
1.8%
Description
Receiver appointed in early 1891; institution later resumed operations (reported July 1893).
Events (8)
1.January 24, 1888Chartered
Source
historical_nic
2.December 17, 1890Other
Newspaper Excerpt
The doors of the Spokane National bank ... were not opened this morning.
Source
newspapers
3.December 17, 1890Suspension
Cause
Local Banks
Cause Details
Suspension precipitated by failures of its three branches in the Coeur d'Alene mining district (Wallace, Wardner, Murray).
Newspaper Excerpt
The Spokane National bank, one of the largest banks in the city, closed its doors this morning.
Source
newspapers
4.December 18, 1890Run
Cause
Local Banks
Cause Details
Depositors gathered and attempted to draw funds after news of the bank's distress and branch failures; crowd appears orderly but reflects depositor agitation.
Measures
Other local banks raised $60,000 to tide over affairs but funds were quickly paid out; no special emergency measures beyond attempted interbank assistance are described.
Newspaper Excerpt
A crowd ... collected ... in front of the Spokane National bank. ... the curtains were not lowered, nor the doors opened.
Source
newspapers
5.February 3, 1891Receivership
Source
historical_nic
6.February 4, 1891Receivership
Newspaper Excerpt
Comptroller Lacey has appointed Herman L. Chase ... receiver of the Spokane National Bank of Spokane Falls, Wash.
Source
newspapers
7.May 20, 1891Other
Newspaper Excerpt
Receiver Chase indicates prospects favorable and that depositors likely to be paid in full; sale of Morning mine discussed as asset to cover liabilities.
Source
newspapers
8.July 6, 1893Reopening
Newspaper Excerpt
The National bank of Spokane reopened for business this morning.
FAILURES. CHICAGO, Dec. - The private banking house of S. A. Kean & Co., of Chicago, has suspended. Mr. Kean says all claims will be paid in full. "We e close," be said, "because we found we could go no further in justice to our friends. We have been negotiating for sometime to reorganize as a state or national bank, but, in the short time allowed us, we found it would be impossible to raise the necessary funds. But for the money stringency we would have had no trouble." The firm did a large business in the way of floating city, county and public improvement bonds, in the west. Many of the bonus were pledged to banks on call loans. The New York office of the concern had been called on for these loans heavily for the past month, and this so reduced the surplus held by the bank that it was thought best to suspond. The depositors were to a great extent church people who had placed confidence in the firm. The deposits recently aggregated between $600,000 and $700,000. KEOKUK, Ia., Dec 17.-Collier, Robertson & Hamilton, wholesale grocers, assigned today. Liabilities, $184,000; assets, half that amount. CHICAGO, Dec. .-The Chicago bankers have no fears of being involved by the Kean failure. SPOKANE FALLS, Wash., Dec. 17.-The doors of the Spokane National bank, one of the largest in the city, were not opened this morning. The bank has been in financial straits for a year past. It became apparent that the bank could not continue without material assistance, and this the local banks were not willing to render. The liabilities are large.
2.December 18, 1890The Helena IndependentHelena, MT
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SPOKANE BANK CLOSED. The Spokane National and Its Three Branches Suspended. SPOKANE FALLS, Dec. 17.-[Special.]The Spokane National bank, one of the largest banks in the city, closed its doors this morning. Its immediate liabilities are estimated at $300,000. W. Hussey, the cashier, claims the assets will exceed the liabilities by $150,000. The suspension was precipitated by the failure of three branches in the Coeur d'Alene mining district, viz.: Bank of Wallace, Bank of Wardner, and Bank of Murrav. The bank has been known to be in financial straits for the past year, but heretofore it has been assisted by other banks. The bank was formerly a United States depository, but the government withdrew its deposits about two weeks ago.
3.December 18, 1890St. Paul Daily GlobeSaint Paul, MN
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CLOSED ITS DOORS. The Spokane National Bank Forced to Suspend. SPOKANE FALLS, Wash., Dec. 17.The doors of the Spokane National bank, one of the largest institutions in the city, were not opened this morning. For nearly a year it has been known among bankers that this bank was in financial straits, and more than once other banes have helped it out. At 4:30 o'clock Monday evening Messrs. W.H. Taylor, the president, and Warren Hussty, cashier, notified the various banking houses of the city of their distress, and asked for assistance. The officers of the other banks called a meeting that evening, at which Messrs. Hussey and Taylor were invited to be present and make a showing of affairs of their bank. The session was a long one. The bankers adjourned with an understanding that the bank could not open Tuesday morning without assistance, that such assistance should be tendered for Tuesday or until a full investigation of affairs could be made. The showing made at that meeting was not borne out by investigation that was made yesterday. At all events the sum of $60,000 was raised by the other banks to tide over the affairs of the Spokane National, until the books could be examined. Last evening another important conference was held, when it was developed that $53,000 of the $60,000 was paid out yesterday, that immediate obligations might be presented at any time for $300,000 instead of $90,000, as at first understood. It then became apparent to the bankers composing the conference that the bank would have to suspend. A conference was held in the office of the Citizens' National bank, and adjourned at a late hour this morning. Dificulty was precipitated by the failure of three branches in the Cour d' Alene mining district, namely: Bank of Wallace, Bank of Wardner and the Bank of Murray. It is said to have been brought about by a failure to realize on securities held by the bank for advances made for development of various mining properties. The bank was a United States depository, but the government withdrew its deposits about two weeks ago.
4.December 18, 1890The Morning CallSan Francisco, CA
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BANK FAILURES. TWO Prominent Institutions Compelled to Close Their Doors. SPOKANE FALLS, Dec. 17.-The doors of the Spokane National Bank, one of the largest institutions in the city, were closed this morning. For nearly a it has been among bankers that straits, and more known in banks financial year than the once bank other was have helped it out. Last Monday W. H. Hussey, the various evening dent,and Warren Messrs. Taylor, cashier, the notified Presibanking-houses of this city of their asked for cers other banks called a distress that of and the assistance. The meeting offievening, at which Messrs. Hussey and Taylor were invited to be present and make a showing of the affairs of the bank. The bankers adjourned with an understanding that the bank could not open on without assistance; that be tendered for sistance morning until full should Tuesday Tuesday such as- or a investigation of affairs could be made; the showing made at that out by an that was not made borne investigation meeting was yesterday. At all events the sum of $60,000 was raised by the over the affair of the books could be until tide evening the Spokane examined. other banks National Last to another conference WRS held, it was that $53,000 of the out yesterday; that might be presented at was for obligations paid developed immediate any $60,000 when time $300,000 instead of It then became composing the bank understood. bankers would conference $90,000, apparent as that at to first the the have to suspend. The conference adjourned at a late hour this was precipitated ure branches in the Mining The of difficulty three Coeur by morning. the d'Alene failDistrict, viz.: The Bank of Bank of Wardner and to have been a to realize on securities held lace, Murray, bank failure the for said brought the about Bank by Wal- the by of advances made for the mining was a United States ment bank tory, but of various the formerly properties. develop- deposi- The Government withdrew its deposits about two weeks ago. The cashier claims that the assets exceed the liabilities by about $140,000. The other banks are in no way affected by the collanse
5.December 18, 1890The Seattle Post-IntelligencerSeattle, WA
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THE SPOKANE SUSPENSION. The suspension of the Spokane National Bank at Spokane Falls will have no effect upon financial circles in this state. Properly speaking, it is an Idaho institution, with but limited business or connections in this state. The Spokane National had three branches-at Wallace, Murray and Wardner-in the Coeur d'Alene mining district, all of which have recently suspended, and the closing of their doors has precipitated the crisis in that institution's affairs. But beyond that its business was principally confined to the furtherance of mining in the Coeur d'Alene and other Idaho mining districts, which in the present condition of the Eastern money market is precarious business. Even that stringeney, however, is showing signs of relaxation, and as a result of the measures now on foot at Washington and in the great money centers, there is every assurance of an early revival of credit, confidence and business, which it is to be hoped will enable the Spokane bank and its branches to resume, and give a new impetus to the Idaho mining industries with which they are identified. The industries and business of this state, being of a more stable and substantial character, are but little affected by Eastern financial flurries.
6.December 18, 1890Los Angeles HeraldLos Angeles, CA
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CONDENSED TELEGRAMS. The doors of the Spokane National bank, at Spokane Falls, Wash., have been closed. All the Union Pacific switchmen at Rawlins, Wyo., are out on a strike, and the only trains moving are the mails. The private banking house of S.A. Kean & Co., one of the oldest in Chicago, has suspended. The failure is not believed to be a bad one. During a personal quarrel in the Italian chamber of deputies Signor Sonnio struck and knocked down Signor Indelli. Indelli challenged Sonnio to a duel. The court of inquiry on the loss of the British cruiser Serpent decided that the loss of the vessel was due to an error of judgment on the part of the navigation officer. At Carey, Ohio, two oil well-drillers, Henry Wilson and Charles Henderson, were fatally burned. When they struck oi the fluid spurted all over them. The gas took fire from the engine, and the men were burned to a crisp. Wood, Pfeiffer and Dungan were given a hearing at Philadelphia, on the charge of wrecking the Bank of America and the American Life Insurance company, and held, $20,000 bail each, in default of which they were remanded to prison. At London, the jury in the libel suit brought by Harry Marks against Butterfield, returned a verdict in favor of the defendant. The jury expressed the opinion that the alleged libel was true in substance, and that the facts were published for the benefit of the public. The judge said he entirely disagreed with the verdict.
7.December 18, 1890Spokane Falls ReviewSpokane, Spokane Falls, WA
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OTHER BANKS SOLID A Streement Made by Mr. Warren Hussey. IT IS THE TALK OF THE TOWN How the News Was Received by the Depositors Incidents of the Day. Early yesterday morning, before the hour when laborers and mechanics begin their daily toil, a crowd of blue. shirted knights of the tin-bucket brigade collected at the corner of Howard street and Riverside avenue, in front of the Spokane National bank. Some of the men decided to lose a day's work to assure themselves that all was well with their deposits. A faint spark of hope that the doors would open and the whole thing prove a horrible dream glowed in the breast of the populace that collected there. Nine clock came. The curtains were not lowered, nor the doors opened. The erowd dispersed. At 9:30 o'clock Perry Griffin, the city possenger agent of the Union Pacific railway, dashed down Riverside avenue to his office. He had just arisen and read the news in the REVIEW while he ate the frugal breakfast of a railroad official. He seized his hat and left the restaurant without paying his bill, so great was his haste to know the worst. He looked over his books in feverish haste. When he had finished, a smile overspread his face. The Union Pacific railway was saved. Only 83 cents of the company's money was in the financial cataclysm. The remainder had been drawn out a day before. The passenger agent returned to his unfinished meal, and ate an additional bowl of mush with a relish. When Judge M. T. Hartson heard the news, he smiled complacently. When his friends met him and told him of their losses, he condoled with them. The temptation to crow over his less fortunate fellow-men was strong. He smiled broadly as he turned the combination of his safe and opened his books. An awful change was wrought in his features. The happy, gay, debonair smile vanished, and in its place there was a wan, pinched face that looked as though it had aged ten years in a single second. A piece of paper fluttered to the floor, and told the story. It was an overlooked deposit check for $150. Such were the experiences of a day. There were many anxious faces but all was quiet on the Potomac. During the forenoon the steps leading to the closed doors were covered by an expectant throng of depositors and curious idlers. It hung around the deserted building like a dark cloud over a waterspout, as though the people expected that some miraculous power might swing open the carved doors, unlock the time lock on the great vaults, and enable them to march in and draw their own deposits. The crowd was as orderly as if it were attending a funeral, as it really was in one sense of the word, but a good deal of good natured badinage passed among the victims, who were evidently determined to make the best of a bad,bargain. But no beneficent genii came to open the doors and fill the vaults with gold and silver, and even if the throng had been turned loose in the money drawers they would not have been much better for the privilege. The sufferers got pienty of cold comfort. Any number of men were around who "knew all about the shaky condition of this bank months ago," and who, had they only known that their friends
8.December 19, 1890Evening StarWashington, DC
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The Spokane National Bank of Spokane Falls, Wash., has suspended, owing to the failure of several branches. Tuesday afternoon Gov. Steele returned the Kingfisher, O.T., capitol bill to both houses of the legislature with a communication setting forth his objections to it. The legislature refused to change the bill.
9.December 20, 1890The Seattle Post-IntelligencerSeattle, WA
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THE BROKEN SPOKANE BANK. Government Had $21,000 on DepositPetitions For a Receiver. WASHINGTON CITY, Dec. 19.-[Special.]Several requests have been received from Spokane Falls for a receiver for the Spokane National band. Comptroller Lacy says he will not appoint any one until after a full investigation. all He said he would appoint no one who is in any way interested in the affairs of the bank, and probably no resident of Spokane Falls. In the Spokane National bank at Spokane Falls, recently suspended, the government had something over $21,000 on deposit. Of this, $14,000 was credited to the Indian land office fund.
10.January 4, 1891The Seattle Post-IntelligencerSeattle, WA
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A Noble Sacrifice. Spokane Falls Globe. When the Spokane National bank suspended the sympathy of all this community went out spontaneously toward Mr. W. H. Taylor. He was only a small stockholder in the bank, and had little or DO voice in its management. But the bank's susppnsion to him was an irreparable calamity, owing to his identification with the institution. He had been president of the Board of Trade. He had vigorously and_intelligently fostered and encouraged every legitimate
11.January 29, 1891The Record-UnionSacramento, CA
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WASHINGTON NOTES. SENATOR HEARST REPORTED AS RESTING COMFORTABLY. The United States Steamship Omaha to be Assigned to the Pacific Coast. Special to the RECORD-UNION. WASHINGTON, Jan. 28.-The United States steamship Omaha is in a very bad condition according to advices received, and her future service will be limited if these reports be true, and it has been decided to assign her to the Pacific station as soon as she can be put in some kind of condition, which is expected to be within the next three months. She will discharge her officers and crew at Panama, and another crew will be sent from the East by a mail steamer. At the Washington navy yards yesterday was performed a successful experiment of putting a steel jacket on one of the two twelve-inch guns to be carried in the forward turret of the coast defense vessel Monterey, now in course of construction at the Union Iron Works, San Francisco. Ensign W. S. Howard is detached from the United States steamship Thetis and ordered to the coast survey. Senators Stanford and Hearst have received copies of the resolutions adopted by the Board of Trustees of Fresno thanking them for their efforts in securing the appropriation for the Fresno Postoffice building. In compiling the complete census of California, which was published in these dispatches several weeks ago, Fresno and Alameda were left out by a clerical error. A corrected list made public to-day by the Census Department gives Fresno 10,818 and Alameda 11,165. In other respects the report as published was correct. Herman L. Chase will be appointed Receiver for the Spokane National Bank at Spokane Falls, Wash. In the House to-day Representative Wilson, of Washington, read a memorial from the Chamber of Commerce of Spokane Falls, favoring the free coinage of silver. Senator Hearst was reported as very comfortable at 11 P. M. California pensions: Benjamin C. White, Los Angeles; Carlos Whitmore, Stockton; Richard B. Mason, National Military Home; Annie, widow of Augustus Tession, San Francisco; Milton I. Young, Waterville; John Hopkins.
12.January 29, 1891The Helena IndependentHelena, MT
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Cannot Understand the Delay. SPOKANE FALLS, Jan. 28.-[Special.]-Creditors of the defunct Spokane National bank are unable to understand the long dolay in the appointment of a receiver. The time within which R receiver should have been appointed expired yesterday and creditors will meet to-morrow and instruct their attorneys to proceed through the United States court to have a receiver appointed immediately.
13.January 29, 1891The Seattle Post-IntelligencerSeattle, WA
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Receiver of Spokane's Broken Bank. WASHINGTON CITY, Jan. 28.-[Special.]Herman L. Chase, of Tacoma, was today appointed by Comptroller Lacey to be rereiver of the Spokane National bank, of Spokane. Mr. Lacey was urged strongly to appoint a resident of Spokane, but refused to do so, as the rule in such cases is that the receiver shall not live in the city where the bank is located. ATCHISON, Kan., Jan. 28.-The State National bank of this city closed its doors this morning, and will go into voluntary liquidation. The bank has a capital stock of $250,000.
14.February 4, 1891Evening StarWashington, DC
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RECEIVER APPOINTED.-The controller of the currency has appointed Herman L. Chase of Tacoma, Wash., receiver of the Spokane National Bank of Spokane Falls, Wash.
15.February 4, 1891St. Paul Daily GlobeSaint Paul, MN
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Chase Appointed. WASHINGTON, Feb. 3.-Comptroller Lacey has appointed Herman L. Chase. of Tacoma, receiver of tle National Bank of spokane, Spokane Falls, Wash.
16.February 4, 1891Evening StarWashington, DC
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RECEIVER APPOINTED.-The controller of the currency has appointed Herman L. Chase of Tacoma, Wash., receiver of the Spokane National Bank of Spokane Falls, Wash.
17.February 18, 1891The Dalles Daily ChronicleDalles, OR
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Will Settle up the Business. SPOKANE FALLS, Feb. 16.-H. L. Chase, recent appointed receiver of the Spokane National Bank, has arrived in this city from Tacoma. He will at once enter on his duties and settle up the business of the bank.
18.May 21, 1891Fairhaven HeraldFairhaven, Bellingham, WA
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WILL PAY IN FULL The Spokane National Will Pay 100 Cents on the Dollar SPOKANE, May 20-In a Seaetle paper of recent date Mr. James Wardner is quoted as saying that he had purchased the Morning mine, near Mullan, paying therefor $1,000,000, the purchase being made for a party of English capitalists. A reporter of the Review yesterday directed the attention of Receiver Chase, the Spokane National bank, to this information. Has the same been consummated, as thus reported?' was asked of Mr. Chase. In everything except the payment of cash. Mr. Wardner accepted the terms of sale agreed upon between the court, the receiver of the mine and the receiver of the bank, and assured methat he would be prepared to close the deal and to make the first payment, involving a large sum of money. as soon as a legal transfer of the property could be effected and the title to the mine examined by the attorney selected by his syndicate. I understand that Mr. Wardner and his attorney will be here the latter part of this week, and think that the sale will be fully consummated within a reasonable time after Mr. Wardner's arrival." Has Mr. Wardner deposited any money as an earnest of his intentions to buy the mine?" Not with me, though possibly he may have done SO with the court. (know Mr. Wardner and all the members of the syndicate whom he represents, and have no doubt whatever of their good faith and ability to consummate the trade which Mr. Wardner has entered into on behalf of himself and friends. If this trade should be consummated V would the Spokane National bank resume d business? r "It is not improbable, and it is quite y V possible that such a course would be pursued, though this course would be det termined by the comptroller of the currency. Would the sale of the Morning mine, as now contemplated, insure the full pay ment of all of the bank's depositors? Most assuredly. 'In the event of a hitch in these negoO tiations would it be possible to pay a dividend upon the deposits out of the other n assets of the bank?" "Why, certainly. There seems to be a a most erroneous impression in the minds of e a few people that the only asset of the e Spokane National bank consisted of the Morning mine, whereas, as a matter of is fact, the bank has much good paper, bills receivable, which is being collected as n o rapidly as possible; and were it possible immediately to convert the bills receivable t held by this bank into cash the bank t would discharge all its liabilities in full without reference to this mine." When will a dividend be declared?' 'That is a matter that is determined e. IS upon in Washington. All moneys as fast as collected are immediately remitted to n the treasurer of the United States, and e the comptroller of the currency is as anx of ious as anyone that the assets be collected h. and all liabilities discharged at the earliest possible moment. I think the conditions are favorable and the prospects 88 good of a dividend being beclared on or before July How much do you think thedepositors in this bank will be able to receive on on their claims?" er Every dollar." he "It is rumored that Mr. Hussey has blocked the Wardner sale, and does not SO want to sell this mine.' to "That is false and malicious. Let any at one who believes such rumors bring Mr. Wardner here, or anybody else who has contemplated or who contemplates the purchase of this property. and I will most ry se effectually refute such allegations. Mr. h Hussey has done and is doing all in his 88 power to effect an absolute sale of the mine."
19.November 23, 1891The Helena IndependentHelena, MT
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MORNING MINE SALE. What It Means to the Creditors of the Spokane National Bank. Several weeks ago THE INDEPENDENT published the report that the Morning mine, near Mullan in the Coeur d'Alene country, had been sold to a Milwaukee syndicate for $600,000. Receiver Chase, of the Spokane National bank, furnishes the Spokane Chronicle with the following details of the deal, but he says the price agreed on is $500,000: To obtain the property the liens must first be paid off. There are about $120,000 in liens on the mine outside of the mortgages aggregating $180,000 more. This amount of money, $300,000 must first be paid before a title can be secured to the Morning property. The purchasers will then give approved security for the $200,000 remaining due and the securities can be negotiated so that it will be practically a cash sale. The syndicate will furthermore agree to expend $750,000 during the coming year on the property in the way of improvements. The mine has been lying idle for nearly a year so that the tramway leading to it is in very bad condition. It is proposed to build a rail road to the mine, and to replace the seventy-five ton concentrator now there with a 300 ton concentrator. Other improvements will be made so as to put the property in first class shape. The Morning mine is on the hillside, two and A half miles from Mullen, and some 5,000 feet up the mountain side. The first tunnel is 180 feet from the apex of the mountain, and the second tunnel 200 feet lower down, while the third tunnel is still further down the hillside. The ore from these tunnels was brought down on 8 tramway, but the railroad can be built around the mountain by easy grades and will permit of cars being loaded directly at the mine, and run over the private road to the Union Pacific. at Mullen. Of the $300,000 liens and mortgages against the mine, $100,000 is due the Spokane National bank, this sum with the other money received from the sale will be ample to pay not only all the depositors of the Spokane National bank in full, with interest, but also the creditors of the various branch banks which the Spokane National had in the Coeur 'Alenes. In fact the $120,000 of liens on the Morning mine represent principally the claims of the bank creditors who filed their claims on the property. The balance of the money after paying the secured claims will enable Mr. Hussey to pay his unsecured oreditors, Home of whom are creditors of the Spokane National. This will help to swell the assets of the bank so that not only will the depositors be paid, but there will be no need for assessing the stockholders.
20.July 7, 1893The Salt Lake HeraldSalt Lake City, UT
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WILL SOON RESUME. Two of the Suspended Los Angeles Banks to Open Very Soon. WASHINGTON, July 6.-The comptroller of the currency is informed that the First National bank of Los Angeles, Cal., and the Southern California bank of the same place, which suspended recently, will open their doors for business again within a few days. The comptroller is also informed that the First National bank of San Diego, Cal., which re-opened for business yesterday, received deposits to the amount of $25,000, as against withdrawals of $8,000. This is regarded as evidence of returning confidence. The National bank of Spokane reopened for business this morning.
21.July 7, 1893San Antonio Daily LightSan Antonio, TX
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LATE TELEGRAMS t BOILED DOWN FROM PRIVATE SPECIAL AND OTHER SOURCES. National bank of Spokane, Wash., resumes. Bissell spends July at Glenn Summit, Pa. The Austin water work's fight continues lively. The murderer of the Ray girls, Ky., jailed in Missouri. Nicaragua legations in Europe and United States abolished. Judge Tunstall is missing from Sour Springs, Wilson county. Houston Heights Bed-spring and Mattress company fails for $10,000. New York Chamber of Commerce favors repeal of Sherman silver law. Central Iowa visited by a rain storm that badly wrecks the oat crop. Consolidation of Mexican iron mining under one syndicate is proposed. The defense in the Randle murder case, Dallas, ask change of venue. Belle, daughter of Judge McCormick of Dallas, weds Chas. F. Barney. Hawaaian company has exploded. It is not certain that Sprekels was in it. Texas County Judges' association meets in Austin Tuesday, August 22nd. Anton Falls and Ida Johnson killed driving across tracks at Gatesville, Wis. Business in Australia is at a stand still and thousands are leaving for America. Cleveland is confined to his room, at Buzzard's Bay, Mass., with rheumatism. Several clauses of the Irish Home Rule bill pass by majorities ranging from 15 to 63. Heavy sales of coffee lands are reported in Cheapos, Mexico, and plant will be doubled. Congressman McMillan, of Tennessee, expects to be head of ways and means committee. Warner, of the bi-metalic league, says that India's silver deal will raise the price of the white metal. Sentences upon Choctaw criminals suspended, and U.S. government endeavors to restore harmony. Overflow of the Weiling river China drowns about 1000 people; and 10,000 perish by flood in the Manigfue district. Smith, cashier, and Page, vice president of Merchant's National of Fort Worth, empty their revolvers at each other in the bank. 1 Cashier wounded, both arrested.
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.
