gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2db140632a2ec5c5
Response Measures
None
Receivership Details
Depositor recovery rate
35.0%
Date receivership started
1892-07-20
Date receivership terminated
1896-03-31
OCC cause of failure
Fraud
Share of assets assessed as good
14.3%
Share of assets assessed as doubtful
36.2%
Share of assets assessed as worthless
49.6%
Description
OCR shows receiver name as 'Morcan'/'Morgan' and minor transcription errors in articles.
Events (4)
1.May 29, 1888Chartered
Source
historical_nic
2.July 20, 1892Receivership
Source
historical_nic
3.January 11, 1894Receivership
Newspaper Excerpt
Geo. Morgan, receiver of the Ninth National at Dallas and the First National Rockwall, was here today in consultation with Comptroller Eckles ... Morgan has communications to make to the department of justice ... officers of the Rockwall bank ... have returned home.
Source
newspapers
4.January 11, 1894Suspension
Cause
Government Action
Cause Details
Comptroller involvement and appointment of a receiver due to complicated/failed condition of affairs.
Newspaper Excerpt
Geo. Morgan, receiver of the Ninth national bank at Dallas and the First national bank of Rockwall, was here today in consultation with Comptroller Eckles over the complicated condition of the affairs of the two banks.
TEXAS BANKS. Special Dispatch. Washington, Jan. 13.-George D. Morcan. receiver of the Ninth national bank at Dallas and the First national bank of Rockwall, was here today in consultation with Comptroller Eckles over the complicated condition of the affairs of the two banks. It is no secret that Morwan also has communications to make to the department of justice, which are intended to more materially settle affairs, Chandler and Williams. officers of the Rockwall bank. who were here to see the comprroller last week., have returned home.
The Failed National Bank Washington, January 11.-Geo. I gan, receiver of the Ninth National at Dallas and the First National Reekwall, was here today in consi with Comptroller Eckeis over the cated condition of affairs of thes banks. It is no Secret that Morgan has communications to make to to partment of justice which are Intends more materially settle the affairs Messrs. Chandler and Williams, ficers of the Rockwall bank wb here to see the comptroller las have returned home.
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.
