Bank suspended and its business taken over/continued by J. G. Maddock of the private First Bank of Goldendale.
Events (3)
1.May 11, 1889Chartered
Source
historical_nic
+7.6 years
2.December 1, 1896*Suspension
Cause Details
Article states suspension but gives no reason; business continued by another private banker.
Newspaper Excerpt
The First National Bank of Goldendale, organized in 1889, suspended last week.
Source
newspapers
+16 days
3.December 17, 1896Voluntary Liquidation
Source
historical_nic
Newspaper Articles (1)
1.January 1, 1897Condon GlobeCondon, OR
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Article Text
The First National Bank of Goldendale, organized in 1889, suspended last week. The banking business will be continued by J. G. Maddock, with the First bank of Goldendale. a private institution.
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.