Bank of Commerce - Boise, ID

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 17, 1911
Location: Boise, Idaho (43.614, -116.203)

Metadata

Model: gpt-5-mini
Short Digest: f86f6f0b

Response Measures

None

Description

1911 newspaper reports the Bank of Commerce in Boise had been closed/suspended (article dated 1911-05-18 refers to the closing Saturday and suspension). The cause appears to be bank-specific bad investments/illiquid assets (failed bond sale, advances to ventures and ties to a trust company and lumber concerns). No explicit contemporaneous run is described and no reopening is mentioned in this article.

Events (1)

1. May 17, 1911 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Illiquid investments and failed bond sale tied to Carnegie Trust and Lane Lumber projects; directors had advanced funds and bonds could not be sold, producing suspension/closing of the bank.
Newspaper Excerpt: the closing of the State Commerce Saturday morning and entic report that the suspen... late Bank of Commerce was con... recovered from the shock brought by the closing of the State Commerce Saturday morning
Source: newspapers

Newspaper Articles (1)

1. May 18, 1911 The Salt Lake Tribune Salt Lake City, UT

Article from The Salt Lake Tribune, May 18, 1911

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Article Text

EIL CRASH BIG SURPRISE The Sought to Be GoverVictim of Series of Misfortunes. FRIENDS FOR LOYAL SUPPORT IN ILL-LUCK in Carnegie Trust, NewsVenture and in PoLitical Financing. Ida., May 17.-Political and circles of Boise wherein B. F. Wallace was a moving spirit recovered from the shock rebrough/the closing of the State Commerce Saturday morning and entic report that the suspenalmost absolute failure for The heavy reverses that the esident. Mr. O'Neil, experienced failure of the Carnegie Trust the New York. the Inland Herald of and part of his private forthrough expense in the political in this state last fall when he edidate for the Republican nomigovernor are said to have been for the crash. suspended because of the ans that were made to Mr. the Lane Lumber company. found to have no liquid astrie Bank Examiner Platt had to Boise from Wallace and interviewed that there was lightest fear, so far as a hasty Hon showed. that the depositors litution would lose a dollar He Mr. O'Neil authorized the folatement: Thanks His Friends. is more surprised or grieved turn of affairs than I: no one it as much as I do. My only that the trouble is upon us, every depositor in the bank will in full and that their inconvenbe slight. To bring this about Wing to give everything I have face of the earth. I do not know thank those of my tried and true who have extended their symad expressed their abiding conme. but I appreciate the blesscomfort these expressions have me.' late Bank of Commerce was conby Boise bankers as one of the did institutions in this state, espenorth Idaho Mr. O'Nell had ddent of It for many years and of the moving spirits in the sho mining city, the heart of the Alenes. Sought Governorship. the campaign two years ago uses H. Brady was the successmatorial candidate. Mr. O'Neil ate chairman of the Republican committee. He was an announced for the nomination of governor and made a strenuous campaign Brady. but was defeated. The forly-horsepower Chamlers-Detomobile that Mr O'Neil toured Idaho in at that time was this to realize funds by its owner. resources of the State Bank of Ice at the close of business March the last report was made to the ank examiner here. were $822.The deposits were $636,257.05 and rapital stock $100,000 Carnegie Trust company is said to sced to dispose of bonds on a cerneel in which Mr. O'Neil was inRelying upon their assurances reid to have advanced $75,000 In in the project. expecting to be rewhen the bonds had been sold. the of the company. however. prethe sale of the bonds. while the to sell, the bonds disabled the and made it impossible for Mr. to obtain the funds expected. As & director in the trust company pro rata with other directors when and this also crinnled his for-