4039. Bank of Wardner (Wardner, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 17, 1890
Location
Wardner, Idaho (47.523, -116.134)

Metadata

Model
gpt-5-mini
Short Digest
06e8281d

Response Measures

None

Description

Contemporary newspapers (Dec 17–18, 1890) report the 'failure' of the Bank of Wardner as one of three branch failures in the Coeur d'Alene mining district that precipitated the suspension of the Spokane National Bank. The articles describe failure to realize on securities (advances for mining development) as the immediate cause. No article describes a depositor run at Wardner; the branch is reported as failed/suspended. Date taken from reports dated Dec 17–18, 1890. Bank type not specified in sources.

Events (1)
1. December 17, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure to realize on securities held for advances made for development of mining properties in the Coeur d'Alene district, causing the branch to fail/suspend.
Newspaper Excerpt
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 Murray.
Source
newspapers

Newspaper Articles (6)
1. December 18, 1890 The Helena Independent Helena, MT
Article from The Helena Independent, December 18, 1890

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Article Text

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.

2. December 18, 1890 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 18, 1890

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Article Text

The Spokane National Bank Is Forced to Suspend. HAS BEEN SHAKY A LONG TIME. Other Banks Investigate Affairs and Decline to Give Aid. S. A. Kean & Co., the Great Chicago Bankers Who Handled Western Municipal Bonds, Are Unable to Raise Funds to Continue Business. SPOKANE FALLS, Dec. 17.-The doors of the Spokane National bank, one of the largest institutions in the city, were closed For a it has been this morning. nearly year known among bankers that the bank was in financial straits, and more than once other banks have helped it out. Last Monday evening Messrs. W. H. Taylor, president, and Warren Hussey, cashier, notified 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 the affairs of the bank. The bankers adjourned with the understanding that the bank could not open Tuesday morning without assistance, and that such assistance should be tendered for Tuesday. or until a full investigation of the affairs could be made. The showing made at that meeting was not borne out by the investigation that was made yesterday. At all events the sum of $60,000 was raised by other banks to tide over the affairs of the Spokane National until the books could be examined. Last evening another conférence was held, when it was developed that $53,000 of the $60,000 was paid out yesterday, and that immediate obligations might be presented at any time for $300,000, instead of $90,000, as at first understood. When it became apparent to the bankers composing the conference that the bank would have to suspend the conference adjourned at a late hour this morning. The difficulty was precipitated by the failure of three branches in the Cour d'Alene mining district. namely: The Bank of Wallace. the Bank of Wardner and the Bank of Murray. The failure is said to have been brought about by failure to realize on securities held by the bank for advances made for the development of various mining properties. The bank was formerly a United States depository, but the government withdrew its deposits about two weeks ago. Cashier Hussey claims that the assets exceed the liabilities by $140,000, and that other banks are in no way effected by the collapse. The condition of the National Bank of Spokaue Falls, according to the report of the comptroller of the currency, made October 2; 1890, was as follows: $100,000 Capital stock 31,609 Surplus and undivided profits, 568,592 Deposits Loans and discounts 399,120

3. December 18, 1890 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, December 18, 1890

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Article Text

Failure at Spokane. SPOKANE FALLS, Wash., Dec. 17.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 that the assets will exceed the liabilities by $140,000. The suspension was precipitated by the failure of three branches in the Couer d'Alene mining district, viz: the Bank of Wallace, Bank of Wardner and the Bank of Murray. The bank was known to have been in financial straits for the past year, but heretofore had been assisted by other banks. The bank was formally a United States depository, but the government withdrew its deposits about two weeks ago.

4. December 18, 1890 The Morning Call San Francisco, CA
Article from The Morning Call, December 18, 1890

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Article Text

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, 1890 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, December 18, 1890

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national bank until the books could be examined. Last evening another important conference was held, when it was developed that $35,000 was paid out yesterday, that immediate obligations might be presented at any time for $300,000, instead of $90,000 as was 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 Citizens' National bank and adjourned at a late hour this morning. The difficulty was precipitated by the failure of three branches in the Coeur d'Alene mining district, namely the bank of Wallace, the 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 the development of various mining properties. The bank was a United States depository, but the government withdrew its deposits about two weeks ago. WILL PROBABLY RESUME. MINNEAPOLIS, MINN., Dec. 17.-Aid from Chicago bankers, from other cities and from forty leading business men of Huron, South Dakota, has been assured and the Huron national bank will probably resume business to-morrow and pay the depositors in full. The run on the bank is said to have been caused by anonymous letters sent to depositors by enemies of the bank, and the police are trying to find the person who wrote them. WHOLESALE GROCERS ASSIGN. KEOKUK, Iowa, Dec. 17.-Collier, Robertson & Hambleton, who gave a mortgage on their wholesale grocery stock and building 8 few days ago, today made an assignment to James W. Summers of the State national bank. The sched ule of liabilities amount to a little over $184,000; assets less than half of this amount.

6. December 19, 1890 The Dalles Daily Chronicle Dalles, OR
Article from The Dalles Daily Chronicle, December 19, 1890

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Article Text

W. H. Taylor, president, and Warren Hussey, eashier, notified the various banking houses of this city of their distress and asked for assistance. The officers of the other banks called a meeting that evening, at whlch Messrs. Hussey and Taylor were invited to be present and make a showing of the affairs of their bank. The session was a late one. The bankers adjonrned with an understanding that the bank could not open Tuesday morning without assistance, and that such assistance should be tendered for Tuesday or until a full investigation of its affairs could be made. The showing made at the meeting was not borne out by the investigation that was made yesterday. At all events, the sum of $60,000 was raised by the other banks to tide over the affair 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 and 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. The difficulty was precipitated by the failure of three branches in the Coeur d'Alene mining district, namely: The bank of Wardner, and the bank of Murray, all of which is said to have been brought about by a failure to realize on securities held by the bank for advances made for the development of various mining properties: The bank was a United States depository, but the government withdrew its deposits about two weeks ago. Cashier Hussey, who failed heavily years ago in Denver and Salt Lake, claims that the assets exceed the liabilities'by $140,000. The other banks arein no way affected by the collapse, as bankers generally discredited Mr. Hussey's ideas of banking.